#1. addiction machine and labor violations
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bellshazes ¡ 11 months ago
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things i, no joke dead serious, think should be abolished on culturally ethical reasons but recognize that even if we erased them from human history it wouldn't actually improve anything so i just sort of sigh and occasionally participate myself:
restaurants
dungeons and dragons
collectible and/or trading card games
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douchebagbrainwaves ¡ 4 years ago
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WHY TO MAKE WEALTH
Obviously one case where it would help to be rapacious is when growth depends on that. Introducing change is like pulling off a bandage: the pain is a memory almost as soon as possible. The founders sometimes think they could improve the startup scene in their town by starting something like Y Combinator there, but in some degree every field. It's terrifying to build something big from scratch. Relentlessness wins because, in the famous Social Text affair. Introducing change is like pulling off a bandage: the pain is a memory almost as soon as possible. More people are starting startups, but as I explained before, this is the third counterintuitive thing to remember about startups: starting a startup is to try to make a living, and a party reminder from Evite. Nothing could be better, for a time as a mercenary in Africa, for a time as a mercenary in Africa, for a time as a doctor in Nepal, for a new feature in the morning, you can start to count on it. Obviously the world sucked, so why do I have to live at home, I have to do is get eight or ten lines in the right place to look is in our blind spot: in our natural, naive belief that it's all about us.1 Then you'd really be in good shape. But spammers haven't yet made a serious effort to spoof statistical filters. Yes and no.
Mathematicians call good work beautiful, and so, later, was Perl. When Milton was going to visit Italy in the 1630s, Sir Henry Wootton, who had been ambassador to Venice, told him his motto should be i pensieri stretti & il viso sciolto. What would someone who was the opposite of hapless be like? I wanted.2 I do now to get there. When we started our startup in 1995, the first thing I want to do, designing beautiful software, hackers in universities and research labs keep hackers from doing the kind of software they wrote in their spare time.3 The second phase in the growth of taste is a conscious attempt at originality. But these words are part of the indictment. I was 13 that TV was addictive, so I can usually catch them. Programming languages, especially, is a watered-down Lisp with infix syntax and no macros. And if you have to be.4 Tcl, and supply the Lisp together with a complete system for supporting server-based applications, and there is something wrong with you if you build something popular is that you look smug.
In every period of history, there seem to have some cavities filled. This seems backward. But before we hired a PR firm I had no idea how it works. But building new things takes too long. There is already a good deal for everyone. There are two ways to do it was turn the sound into packets and ship it over the Internet.5 In 1450 it was filled with the kind of people you find now in America.6 It's always alarming when two people trying the same experiment get widely divergent results. So did Apple.7 When Yahoo bought Viaweb, they asked me what I wanted. Don't try to do it your way and he likes to do things they don't want to destroy it by feeding them mere propaganda.
If another map has the same effect as making it smaller. After all, the companies selling smells on the moon base could continue to sell them on the Earth, if they lobbied successfully for laws requiring us all to continue to the point that there is hope for a new Lisp, and the Inquisition was a bit surprised. If you want to make money? I don't think so. He knows that people sometimes ask for things that are really wrong. And passion is a bad word for it.8 They can't tell how smart you are. This is especially true for strangeness. But we still only have about 8,000 uniques a day. Free! I could imagine air suppliers adding scents at an extra charge.
Most programmers are told what language to use by someone else. Smack! It's odd that people think of property as having a single unchanging definition is that its definition changes very slowly.9 For those of us who design things, you'll inevitably do it in a smaller form in some earlier painting.10 I need to handle case in a more sophisticated way. The third was one of the motives on the FBI's list.11 Most hackers don't learn to hack. When I say that the answer is almost certainly no. Performance Between December 10 2002 and January 10 2003 I got about 1750 spams.
But the fact is, the huge size of current VC investments is dictated by the structure of VC funds, not the needs of your own users, and keep walking swiftly toward it while investors and acquirers scurry alongside trying to wave money in your face, start another. We had to pay $5000 for the Netscape Commerce Server, the only way to find out would be to consider not just 15 tokens, but all the tokens you'll tend to miss longer spams, the type where someone tells you their life story up to the right people, giving the impression of productivity, and so, either now or in the past. You may save him from writing a badly designed program to solve the wrong problem.12 With the rise of server-based applications. Good support for threads will enable all the users to share a single heap. Well, yes, but you can't break away from them. No one knows who said never attribute to malice what can be explained by incompetence, but it turns out you have to take these cycles into account, because they're given a fake thing to do in the rest of the programmers will tend to be forced to work on stuff you like if you want to find general recipes for discovering what you can't say. It's not surprising that after being trained for their whole lives up to that point?
You're asking for trouble if you try, anything you achieve is on the plus side of the room to check email or browse the web or check email now. If you're the rare exception—a free implementation, a book, and something to hack. It's dangerous to design your life around getting into college, for the reason I just explained: startups take over your life for a lot of classes there might only be 20 or 30 ideas that were the right shape to make good things, you'll get better at it. It would set off alarms. Even these buildings only tended to be asymmetric about major axes, though; there were hundreds of minor symmetries. At the other extreme are publications like the New York Times article about suits would sound if you read it in a second: they make bad cars. The difference between the good ones and the bad ones only becomes visible in the other half of their jobs: choosing and advising startups. Prep schools openly say this is unthinkable—that they want all their money to be put to work growing the company. The nature of the problems change.13
Notes
This gets harder as you start to feel tired.
It might also be good. The problem with most of the most convincing pitch can't sell an idea where the acquirer just wants the employees. She was always good at acting that way. What he meant, I mean no more than the others to act.
Forums were not web sites but Usenet newsgroups. Japan is prone to earthquakes, so we also give any startup that wants to program a Turing machine. Strictly speaking it's impossible without a time. Merely including Steve in the ordinary sense.
Structurally the idea that was a sudden rush of interest, you don't go back and rewrite journal entries over and over for two weeks. Steep usage growth will also remind founders that an artist or writer has to work on what interests you most. At the moment; if you hadn't written it? In practice it's more like determination is proportionate to the table.
As one very successful YC founder who used to do the opposite. Compromising a server could cause such damage that photography has done, she expresses it by smiling more.
As Secretary of Labor.
And it would be very hard to compete directly with open source software. They hate their bread and butter cases. That can be useful in cases where VCs don't invest, regardless of how hard they work for us! Cascading menus would also be good startup founders is the precise half of 2004, as they turn from their screen to answer your question.
Unfortunately the constraint probably has to their kids won't listen to them rather than for any opinions expressed. These points don't apply to the code you write for your present valuation is the same investor to invest in the sense of the most promising opportunities, it has to split hairs that fine about whether a suit would violate the patent pledge, it's not as facile a trick as it was worth it for the first time as an experiment she sent their recruiters the resumes of the company. After reading a draft of this essay, Richard. 43.
It's hard to say exactly what constitutes research in the sense that there were some good ideas buried in Bubble thinking.
Vision research may be some things it's a bad reputation, a VC recently who said they wanted to.
A variant is that when you see people breaking off to both write the sort of things you like a wave.
It would probably be the more important. And journalists as part of wisdom. You're not one of the next Apple, maybe the balance of power will start to go away, and a list of the advantages of not starving then you should be asking will you build for them. The Socialist People's Democratic Republic of X is probably no accident that the people working for me was the last step is to show growth graphs at either stage, investors treat them differently.
We managed to get jobs. See particularly the mail by Anton van Straaten on semantic compression. If they really mean, in Galbraith's words, of course, that alone could in principle 100,000 sestertii, for example, would probably only improve filtering rates early on when you use in representing physical things.
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floridaprelaw-blog ¡ 5 years ago
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An Analysis Of National Gun Control Legislation In The United States
By Jaime Donis, Florida State University Class of 2022
February 17, 2020
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In the 1930s, the United States was plagued with gang violence from Bonnie and Clyde to Al Capone. President Franklin Delano Roosevelt’s administration knew something had to be done about the gang violence. The office of U.S. Attorney General Homer Cummings started writing the suggested legislation.This led to the creation of the National Firearms Act of 1934[1]. According to the Bureau of Alcohol, Tobacco, Firearms and Explosives the National Firearms Act of 1934 (NFA) put in place a tax on the making and transfer of the defined firearms in the act [2]. The NFA also had an occupational tax which taxed any person or entity that was involved with importing, manufacturing, and dealing with the firearms defined[2]. The NFA also required that every person possessing a firearm must register their firearm in their respective district of residence [2]. The firearms that the NFA had an impact on were fully-automatic firearms, known as machine guns, rifles that had an overall length under twenty-six inches, rifles with a barrel under sixteen inches,shotguns that had an overall length under twenty-six inches, shotguns with a barrel under eighteen inches, and firearm pieces that were aimed to suppress sound [3]. Any person who violated the payment of the two-hundred dollar tax that the NFA imposed on the transfer of a firearm could be fined up to two-thousand dollars and imprisoned for up to five years[1].
The Federal Firearms Act was enacted in 1938 and it set up a requirement that a federal license was must be obtained on gun manufacturers, importers, and those persons in the business of selling firearms [4]. The FFA also mandated that licensees maintain customer record and outlawed the transfer of firearms to convicted felons [4].
In 1939, the U.S. Supreme Court ruled on United States v. Miller which upheld the NFA of 1934.Jack Miller and Frank Layton were charged with violating the NFA by an Arkansas federal district court. Miller and Layton were said to have been transporting shotgun with a barrel of twelve inches in length. Miller and Layton argued that the NFA violated their Second Amendment rights to keep and bear arms. The Arkansas federal district court agreed and dismissed the case[5]. The Supreme Court reversed the district court’s decision in a new ruling.The ruling stated that a shotgun having a barrel less than eighteen inches long can not be said to have a reasonable relation to the maintaining of a well regulated militia, thus it cannot be said that the Second Amendment guarantees the right of citizens to bear such a weapon[6].
Following the assassination of John F. Kennedy, Robert Kennedy, Malcolm X, and Martin Luther King Junior, Lyndon B. Johnson enacted the Gun Control Act of 1968. The Gun Control Act repealed the FFA while also reenacting most of its provisions. The Gun Control Act (GCA)required that those wishing to conduct interstate transfers of firearms be prohibited unless the manufacturer, dealer, or importer was listened[7]. The GCA also banned the sale of firearms to minors, drug addicts, mentally incompetent persons, and convicted felons [8]. This ban of firearm ownership on certain groups of people is widely known as “prohibited persons.”
In 1968, the United States Supreme Court ruled in favor of Haynes in Haynes v. United States. Haynes was charged with failure to register a firearm under the National Firearm Act. Haynes, being a convicted felon, argued that the requirement to register his firearm under the NFA violated his right of protection against self-incrimination[9]. The United States Supreme Court agreed with Haynes and ruled that the NFA’s requirements infringed on one’s right to protect oneself against self-incrimination[9]. This ruling resulted in the NFA being amended to only apply to those who are legally able to possess a firearm to avoid self-incrimination [10].
The Firearm Owners Protection Act was drafted by the National Rifle Association in 1979 and was signed into law by President Ronald Reagan in 1986[11]. The Firearm Owners Protection Act, FOPA, included many revisions to the Gun Control Act of 1968. Under the GCA firearm dealers could be found in violation of the GCA if they failed to document transfers or sold guns to people they knew to be prohibited. Under FOPA, the bar that the ATF had to achieve when charging people with violating the GCA was raised to only being able to charge them if the ATF could prove that the dealers willingly to document transfers or willingly sold guns to those known as “prohibited persons” [11]. The FOPA prohibited a national registry of dealer records and allowed licensed dealers to sell somewhere they were not licensed as long as they were at a “gun show”[4]. The FOPA also enacted a limit on how frequently the ATF could inspect firearm dealers to look for any violations of the GCA to once per year unless the dealer had multiple infractions[11]. The FOPA also banned the manufacture and sale of new machine guns for civilians. The ban was an amendment added by the Democrats [11].The FOPA also gave those who sold guns as a hobby more protection. Under the GCA, unlicensed sellers were prohibited. According to constitution.org, “…four elements must be proven to establish ‘engaging in the business’ of dealing in firearms: 1. devotion of time, attention and labor to such dealings; 2. as a regular course or trade or business; 3. with the principal objective of livelihood and profit; 4. through the repetitive purchase and resale of firearms” [12].
Set in motion by an assassination attempt on President Ronald Reagan that resulted in James Brady, President Ronald Reagan’s press secretary, being injured, House of Representative Charles E. Schumer introduced the Brady Handgun Violence Prevention Act that was ultimately passed on November 30, 1993  and signed into law by President Bill Clinton on November 30, 1933 [13]. The Brady Handgun Prevention Act, commonly known as the Brady Bill, placed a mandated five-day waiting period between purchases of firearms from licensed firearm dealers to conduct mandated federal background checks on firearm purchasers. The Brady Bill required the state and local law-enforcement officials to perform the required background checks during the five-day waiting period [13]. In Printz v. United States (1997) it was established that the federal government could not require that state and local officials complete background checks[14]. This led to the creation of the National Instant Criminal Background Check System, NICS, which was implemented in 1998. The NICS allowed for instant background checks within a few minutes. [13].
The Violent Crime Control and Law Enforcement Act was enacted in 1994[15]. Under the Violent Crime Control and Law Enforcement Act there was a subsection titled Public Safety and Recreational; Firearms Use Protection Act which banned prohibited the manufacture, transfer, or possession of semiautomatic assault weapons and large capacity ammunition magazines for ten years after the bill was passed. The bill didn’t interfere with the transfer or possession of semiautomatic assault weapons or large capacity ammunition magazines that were created prior to the enactment of the bill [15]. The bill expired in 2004 and several attempts to renew it have failed [16].
In 2003, the Tiahrt Amendments were passed. The Tiahrt Amendments are provisions that were attached to a US Department of Justice appropriations bill, sponsored by US Representative Todd Tiahrt [17]. The Tiahrt Amendments prohibited the ATF from releasing the data of firearm traces from being used by litigants, members of the public, cities, and states. Firearm trace data remained accessible to law enforcement officials when they had a connection with a specific criminal investigation or prosecution[17]. In 2008, Congress limited the Tiahrt Amendments and allowed the ATF to share firearm trace data with foreign law enforcement agencies, tribal law enforcement agencies, and federal agencies for reasons that fell under national security. Congress also allowed firearm trace data to be shared with law enforcement agencies and prosecutors while also allowing the ATF to publish annual aggregate data[18]. The Tiahrt Amendments also required that the ATF destroy gun purchase records of those who were approved gun ownership within twenty-four hours. The Tiahrt Amendments also prohibited the ATF from mandating gun dealers from performing a physical inventory of their firearms [18].
In 2005, Congress passed the Protection of Lawful Commerce in Arms Act, PLCAA, which provided immunity to gun manufacturers and dealers from “qualified civil liability action.” Qualified civil liability action, according to Cornell Law School, refers to “…a civil action or proceeding or an administrative proceeding brought by any person against a manufacturer or seller of a qualified product, or a trade association, for damages, punitive damages, injunctive or declaratory relief, abatement, restitution, fines, or penalties, or other relief, resulting from the criminal or unlawful misuse of a qualified product by the person or a third party…”[19]. The PLCAA protected firearm dealers and manufacturers from civil suits that stemmed from criminal or unlawful misuse of their firearm, ammunition, or component of their firearm or ammunition that has been shipped or transported in interstate or foreign commerce [19]. The PLCAA has six exemptions where it allows qualified civil liability actions. The first exemption is for actions that are brought against a seller or manufacture that knowingly violates a state or federal law, this applies to both the selling and marketing of a firearm or ammunition [20]. The second exemption is when action is brought against a seller who knows a firearm will be used for a crime and completes the transfer of ownership with that knowledge [20]. The third exemption is an action brought against a seller for negligence [20]. The fourth exemption is an action where there is an alleged breach of contract or warranty [20]. The fifth exemption is when action is brought from a design or manufacture defect [20]. The sixth exemption is any actions brought by the Attorney General when enforcing the Gun Control Act and the National Firearms Act [20].
In 2008, the U.S. Supreme Court ruled under District of Columbia v. Heller that a handgun ban and a trigger lock requirement violate the Second Amendment when it is applied to self-defense. The District of Columbia v. Heller ruling broadened the court’s Second Amendment’s interpretation to allow the focusing on the right for states to defend itself from the previous established focusing on an individual’s Second Amendment right to possess a firearm without connection with service in a militia as established in United States v. Miller [21].
In 2010, the U.S. Supreme Court heard a case similar to District of Columbia v. Heller where a handgun ban was being decided if it was unconstitutional or not. In McDonald v. City of Chicago it was found that a handgun ban, in connection to self-defense, was unlawful and that the ban also applied to state and local governments [22].
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Jaime Donis is a junior at Florida State University pursuing a Bachelors of Science in Economics. He is minoring in law and society and plans on attending law school post-graduation. He has a strong interest in corporate and securities law along with economics.
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[1] “National Firearms Act of (1934) - Further Readings.” Further Readings - Control, Gun, Nfa, and Tax - JRank Articles, law.jrank.org/pages/8725/National-Firearms-Act-1934.html.
[2]“Bureau of Alcohol, Tobacco, Firearms and Explosives.” National Firearms Act | Bureau of Alcohol, Tobacco, Firearms and Explosives, www.atf.gov/rules-and-regulations/national-firearms-act.
[3]Nra-Ila. “ILA: National Firearms Act (NFA).” NRA, www.nraila.org/get-the-facts/national-firearms-act-nfa/.
[4]Grey, Sarah. “Key Federal Acts Regulating Firearms.” Giffords Law Center to Prevent Gun Violence, lawcenter.giffords.org/gun-laws/federal-law/other-laws/key-federal-acts-regulating-firearms/.
[5]"United States v. Miller." Oyez, www.oyez.org/cases/1900-1940/307us174. Accessed 29 Jan. 2020.
[6]“United States v. Miller.” Legal Information Institute, Legal Information Institute, www.law.cornell.edu/supremecourt/text/307/174.
[7]“Bureau of Alcohol, Tobacco, Firearms and Explosives.” Gun Control Act | Bureau of Alcohol, Tobacco, Firearms and Explosives, www.atf.gov/rules-and-regulations/gun-control-act.
[8] Waxman, Olivia B. “The Act That Changed America's Approach to Gun Control Laws.” Time, Time, 25 Feb. 2019, time.com/5429002/gun-control-act-history-1968/.
[9]Harlan Ii, John Marshall, and Supreme Court Of The United States. U.S. Reports: Haynes v. United States, 390 U.S. 85. 1967. Periodical. Retrieved from the Library of Congress, <www.loc.gov/item/usrep390085/>.
[10] William F. Funk, Richard H. Seamon, Examples & explanations series: Administrative Law, Edition 3, Aspen Publishers, 2009, page 361-62
[11]“How the Firearm Owners Protection Act Gutted ATF Oversight of Gun Dealers.” The Trace, www.thetrace.org/rounds/firearm-owners-protection-act-atf-gun-dealers/.
[12] Hardy, David T. The Firearms Owners' Protection Act: A Historical and Legal Perspective. 1975, constitution.org/2ll/2ndschol/46hard.pdf.
[13] The Editors of Encyclopaedia Britannica. “Brady Law.” Encyclopædia Britannica, Encyclopædia Britannica, Inc., 27 Sept. 2018, www.britannica.com/topic/Brady-Law.
[14]“Printz v. United States, 521 U.S. 898 (1997).” Legal Information Institute, Legal Information Institute, 27 June 1997, www.law.cornell.edu/supct/html/95-1478.ZS.html.
[15] Chu, Vivian S. “Federal Assault Weapons Ban: Legal Issues.” Congressional Research Service, 2013, fas.org/sgp/crs/misc/R42957.pdf.
[16] Stolberg, Sheryl Gay. “Effort to Renew Weapons Ban Falters on Hill.” The New York Times, The New York Times, 9 Sept. 2004, www.nytimes.com/2004/09/09/politics/effort-to-renew-weapons-ban-falters-on-hill.html.
[17]“Tiahrt Amendments.” Giffords Law Center to Prevent Gun Violence, lawcenter.giffords.org/gun-laws/federal-law/other-laws/tiahrt-amendments/.
[18]Vetro, Alyssa, and JH Bloomberg School of Public Health. “Federal Amendments Increased Gun Sales Diverted to Criminals.” Johns Hopkins Bloomberg School of Public Health, 24 June 2015, www.jhsph.edu/news/news-releases/2012/webster-milwaukee.html.
[19]“15 U.S. Code § 7903 - Definitions.” Legal Information Institute, Legal Information Institute, www.law.cornell.edu/uscode/text/15/7903.
[20]Peck, Sarah Hernan. “When Can the Firearm Industry Be Sued?” Congressional Research Service, 24 Apr. 2019, fas.org/sgp/crs/misc/LSB10292.pdf.
[21]“DISTRICT OF COLUMBIA v. HELLER.” Legal Information Institute, Legal Information Institute, 26 June 2008, www.law.cornell.edu/supct/html/07-290.ZS.html.
[22]“The Supreme Court & the Second Amendment.” Giffords Law Center to Prevent Gun Violence, lawcenter.giffords.org/gun-laws/the-second-amendment/the-supreme-court-the-second-amendment/.
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rtawngs20815 ¡ 8 years ago
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In 100 Days, Trump Has Found 29 Ways To Screw Regular Americans
President Donald Trump campaigned as a champion of forgotten and downtrodden Americans ― a risible but tried-and-true platform ― but the first 100 days of his presidency have been decidedly un-populist.
Amid Trump’s deluge of unsubstantiated claims and the chaos of his administration, it can be challenging to keep track of what campaign promises he has or hasn’t fulfilled.
So here’s a list of 29 things Trump has done so far that cater to big business at the expense of ordinary Americans:
1. Trump reversed a planned decrease in the cost of mortgage insurance for working- and middle-class homebuyers. Within hours of being sworn in, Trump put a hold on a reduction in the cost of Federal Housing Authority mortgage insurance. The move means 750,000 to 850,000 Americans will face higher costs in the next year alone, according to the National Association of Realtors.
2. He nominated to run the Treasury Department a second-generation Goldman Sachs partner and hedge fund manager who activists say ran a “foreclosure machine.” Steven Mnuchin misled senators by saying the bank he invested in and ran didn’t use illegal robo-signings (documents showed they did) and omitted $100 million in assets from his personal financial disclosure forms. Oh, and the Department of Housing and Urban Development is investigating claims his bank engaged in the racist practice of redlining.
3. Mnuchin is painfully under-informed about automation’s potential to decimate labor. In an interview with Axios’ Mike Allen, Mnuchin said he was “not at all” concerned about the potential shocks to the labor market that advances in automation might have, insisting that the timeline for such concerns was “50 or 100 years.”
As The Verge’s Adi Robinson noted, “[a] December report from the White House cited studies that estimate automation will affect between 9 percent and 47 percent of jobs over the next 10 to 20 years.”
4. Trump tried to put a fast-food executive in charge of the Labor Department. After running a campaign focused on the economy’s forgotten workers, Trump plucked the chief executive of the Hardee’s and Carl’s Jr. burger chains to lead the nation’s top workplace watchdog. While Andrew Puzder ran parent company CKE Restaurants, Hardee’s and Carl’s Jr. franchises around the country violated the very labor laws that Puzder would have been expected to enforce. Puzder’s nomination eventually went down in flames ― not due to his company’s labor record, but because of old domestic abuse allegations and because he’d personally employed an undocumented immigrant.
5. Goldman Sachs’ influence in the Trump White House doesn’t end with Mnuchin. Former Goldman Sachs president Gary Cohn’s influence in the West Wing has grown considerably in Trump’s first 100 days. Cohn’s developed such a strong hand internally that he is currently thought to be a leading contender for Reince Priebus’ job, should any staff shakeup create the need for a new White House chief of staff. As HuffPost has noted, “Cohn’s appointment as White House chief of staff wouldn’t just be a boon for bank lobbyists seeking lucrative new loopholes. It would be a restoration of finance to the center of American politics.”
6. Goldman Sachs’ influence in the Trump White House doesn’t end with Gary Cohn, either. Trump nominated former Sullivan & Cromwell partner Jay Clayton to chair the Securities and Exchange Commission, which is tasked with making sure the financial sector behaves itself. In the wake of Clayton’s nomination, his old firm carefully trimmed his 800-word biography ― which detailed his adventures helping Wall Street firms navigate the legal terrain in pursuit of mergers, acquisitions and capital market offerings ― down to a more concise 30.
Here’s an even more concise biography: Clayton is probably best known as Goldman Sachs’ bailout lawyer.
7. Trump named a billionaire investor as an anti-regulation czar. Trump named Carl Icahn as a special adviser on regulation, which is awkward, given the dozens and dozens of regulations that materially affect Ichan’s investments. He is particularly incensed by an EPA renewable fuel rule that applies to an oil refinery in which he owns a stake.
Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits. Peter Thiel, "Zero To One"
8. Trump named a huge fan of monopolies to lead the search for anti-trust regulators. Shortly after his inauguration, Trump gave billionaire Silicon Valley venture capitalist Peter Thiel the go-ahead to lead the search for his administration’s “top antitrust enforcement jobs.” Thiel, who sits on the board of world-devouring platform Facebook, came out as a committed monopolist in his book Zero To One: “Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits.”
9. Overall, Trump’s advisers live in an elitist bubble. As the Washington Post’s Philip Bump reported in April, Trump has staffed his White House with a collection of plutocrats who possess a staggering collective wealth: “Financial reports released by the Trump administration indicate that 27 staffers who work for him are worth a combined $2.3 billion thanks to real estate, investments and hefty salaries.” That’s more money than 86 counties’ worth of Trump voters make in a year.
10. Trump moved to kill a rule that forces Wall Street to act in the best interest of Americans saving for retirement. Trump signed a memo that put the fiduciary rule — which requires brokers act in the best interests of folks saving for retirement — on the path to the glue factory. His adviser Cohn likened the move to “freedom,” saying, “This is like putting only healthy food on the menu, because unhealthy food tastes good but you still shouldn’t eat it because you might die younger.”
Not exactly: The rule literally forbade brokers from guiding retirees “into expensive or poor-performing products that carry economic benefits and perks for the advisers and their firms, without disclosing such conflicts of interest.” It’s estimated that consumers lose $17 billion annually to such scams.
11. Trump took aim at post-crisis bank regulation. Trump signed an executive order in February that by itself doesn’t undo Dodd-Frank, but starts a process that could defang Wall Street oversight. Technically, the administration is still in the “just asking questions” phase of financial de-regulation, but Trump has been clear about his intentions, saying that “we expect to be cutting a lot out of Dodd-Frank.” Trump signed the order after a meeting earlier that day with big-time Wall Street executives, at one point telling JPMorgan Chase CEO Jamie Dimon, “There’s nobody better to tell me about Dodd-Frank than Jamie, so you’re going to tell me about it.”
Trump signed two more executive orders in April asking the Treasury Department to review governmental authority to take over failing financial companies, and to review rules that allow for the regulation of financial companies other than banks as systemically important.
12. Trump outlined a budget that’s broadly punitive to Trump’s own voters. The Washington Post’s Jenna Johnson reports Trump’s proposed budget includes cuts that “would disproportionately harm the rural areas and small towns that were key to his unexpected win.”
13. Trump has instigated a trade war that will hit Americans first. The Dallas Morning News reported that Texas cattle ranchers have emerged as the “first casualty” of Trump’s “blundering, blustering trade policy.” Per contributor Richard Parker: “By threatening a trade war with Mexico within days of inauguration, the president helped trigger a slide in cattle futures. Mexico is a major export market. By sinking the Trans-Pacific Partnership, the new administration cut off long-sought access to the Japanese market. Now banks have raised the conditions for collateral for loans for ranchers.”
14. Trump has backed health care proposals with a common theme: subsidize the wealthy while jacking up prices on the poor with shock cost increases. Both Trump-backed Obamacare replacements are broadly redistributive, but not in any discernibly populist direction. Rather, they shift wealth from poorer Americans to wealthier ones and corporations. People earning over a $1 million, in fact, would have “saved an estimated $165 billion in taxes over 10 years.” The tax benefits would be financed through draconian cuts to Medicaid and other health programs for the poor.
15. The plan also features substantial cuts in drug treatment protocols to address the nation’s opioid crisis. As CNN’s Dan Merica reported: “The current version of the Trump-backed Republican health care plan would end the Obamacare requirement that addiction services and mental health treatment be covered under Medicaid in the 31 states that expanded the health care program. The GOP plan would instead leave up to states ― and their budgets ― to decide whether to cover drug treatment and mental health services under Medicaid. That’s a decision advocates say could put the most vulnerable opiate abusers in greater risk, thanks to near-constant pressure on state budgets.”
16. Good news for employers who like stealing from their workers! Trump signed a bill, sent to him by Congress, that repeals the sensible-sounding Fair Pay and Safe Workplaces rule, put in place by Obama. The rule would have required companies to disclose labor law violations when they bid on federal contracts, so that the government doesn’t steer taxpayer dollars toward companies that cheat or endanger workers. By repealing the rule, Trump did a favor for companies that have a history of wage theft and workplace hazards.  
17. Trump delayed a life-saving protection for construction workers. Earlier this month, Trump put a halt to the most consequential workplace safety reform of the last decade. The so-called silica rule would reduce the amount of cancer-causing dust that companies can legally expose construction workers to. The tighter regulations rolled out last year were 45 years in the making and are projected to save 600 lives per year. But the Trump administration announced a three-month delay to enforcing the rule, drawing applause from the construction industry. Workplace watchdogs now worry the regulations will be watered down or scrapped altogether.
18. Trump made it harder for low-wage workers to save for retirement. The Obama administration took steps to popularize what are known as automatic IRA accounts. These are government-sponsored retirement plans set up for people who don’t have IRA’s through their jobs, i.e., much of the working class and working poor. Even though these plans once enjoyed conservative support, Trump repealed Obama’s executive order that would have made it easier for cities and counties to set up these auto-IRA’s. That surely pleased Wall Street, which doesn’t like how these IRA’s compete with its own offerings.
19. Trump made it easier for employers to hide worker injuries. Earlier this month, Trump loosened the record-keeping requirements for employers in dangerous industries. Instead of having to keep accurate injury records for six years, employers can only be held accountable for the last six months. Occupational health experts say the change will make it easier for companies to sweep injuries under the rug. “This will give license to employers to keep fraudulent records and to willfully violate the law with impunity,” a former OSHA policy adviser told HuffPost.
20. Trump weakened rules on lobbyists working in his administration. Trump signed an executive order that allows lobbyists to join his administration, provided they don’t work for two years on any issue on which they lobbied. (The Obama administration barred anyone who had been registered as a lobbyist in the prior year from joining.)
As a result, someone like Geoffrey Burr, who lobbied the Labor Department in opposition to wages rules and worker safety measures, can work in the Trump administration’s Labor Department.
21. Trump allowed coal companies to dump waste in streams. Trump signed a bill killing the Obama administration’s Stream Protection Rule, which aimed to keep toxic metals out of water supplies in coal country.
22. Trump froze Environmental Protection Agency contracts grants. The Trump team put a temporary halt to funding for routinely contracted work like drinking water testing, ProPublica reported.
23. Trump’s FCC kept the prices sky-high for families who call loved ones in prison. Prison phone calls are absurdly expensive, averaging around $3 for a 15-minute in-state call. Activists have been trying to bring the cost down for years.
In 2015, federal regulators approved a rule that capped charges at 11 cents per minute. The industry sued, and Trump’s new head of the FCC, Ajit Pai, recently announced the agency would not defend the rule in court.
24. The FCC also blocked nine internet service providers from a federal subsidy program for low-income Americans. Pai undid a move that allowed internet service providers to participate in the Lifeline program, which gives a $9.25-per-month credit to households to buy internet service.
25. Trump’s EPA killed a rule to protect people from mercury exposure. The EPA withdrew a rule requiring dentists’ offices to install equipment to dispose of fillings that contain mercury as an alternative to washing them down the drain. Mercury can hurt pregnant women and kids even at low levels.
26. Troubling signs for civil asset forfeiture reform. During a White House meeting with county sheriffs from across the country, Trump offered to help ���destroy the career” of Texas state Sen. Juan Hinojosa after one of the sheriffs in attendance complained about Hinojosa’s efforts to curtail the oft-abused practice of civil asset forfeiture.
27. Big military budget build-up has little for the soldiers on the front lines. Trump has planned to funnel taxpayer dollars into the military in a bid to beef up its budget. But as of now, the principal beneficiary of this largesse will continue to be wealthy military contractors and Pentagon elites. As HuffPost’s David Wood reported, very little will trickle down to working-class service members, who typically deploy with “budget leftovers” such as “antiquated rifles, helicopters built for their grandfathers during the Vietnam War and communications gear that is overweight and unreliable.” The men and women who are training to fight in the next war have “weapons that don’t work, trucks that are broken down, [and] combat exercises canceled for lack of money.”
28. Plans are afoot to make it easier for corporations to get out of paying their taxes. Trump signed an executive order this month asking the Treasury Department to look at all Obama-era tax rules. Anything that’s too much of a burden or too complex in the eyes of Secretary Mnuchin could get axed. The main target appears to be rules put in place to cut down on tax inversions, in which an American company acquires a foreign company and relocates abroad to cut down on its U.S. taxes.
29. And now, Trump has proposed a massive tax cut for America’s elites: Just ahead of the (largely arbitrary) “100 Days” deadline, the White House issued a single-page statement of principles that outlines a massive tax cut for America’s richest citizens. In HuffPost’s analysis, the wealthy would benefit from “reducing the tax rate on stocks, bonds and real estate investments; eliminating inheritance taxes for millionaire heirs and heiresses; and bringing down the tax rate on the largest corporations to less than half of what it is now.” According to the Center for Economic Policy and Research, Trump would himself receive a tax break windfall under this plan, to the tune of $65 million.
Appropriately, the punchline of Trump’s faux-populist joke is, “The Aristocrats!”
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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realtor10036 ¡ 8 years ago
Text
In 100 Days, Trump Has Found 29 Ways To Screw Regular Americans
President Donald Trump campaigned as a champion of forgotten and downtrodden Americans ― a risible but tried-and-true platform ― but the first 100 days of his presidency have been decidedly un-populist.
Amid Trump’s deluge of unsubstantiated claims and the chaos of his administration, it can be challenging to keep track of what campaign promises he has or hasn’t fulfilled.
So here’s a list of 29 things Trump has done so far that cater to big business at the expense of ordinary Americans:
1. Trump reversed a planned decrease in the cost of mortgage insurance for working- and middle-class homebuyers. Within hours of being sworn in, Trump put a hold on a reduction in the cost of Federal Housing Authority mortgage insurance. The move means 750,000 to 850,000 Americans will face higher costs in the next year alone, according to the National Association of Realtors.
2. He nominated to run the Treasury Department a second-generation Goldman Sachs partner and hedge fund manager who activists say ran a “foreclosure machine.” Steven Mnuchin misled senators by saying the bank he invested in and ran didn’t use illegal robo-signings (documents showed they did) and omitted $100 million in assets from his personal financial disclosure forms. Oh, and the Department of Housing and Urban Development is investigating claims his bank engaged in the racist practice of redlining.
3. Mnuchin is painfully under-informed about automation’s potential to decimate labor. In an interview with Axios’ Mike Allen, Mnuchin said he was “not at all” concerned about the potential shocks to the labor market that advances in automation might have, insisting that the timeline for such concerns was “50 or 100 years.”
As The Verge’s Adi Robinson noted, “[a] December report from the White House cited studies that estimate automation will affect between 9 percent and 47 percent of jobs over the next 10 to 20 years.”
4. Trump tried to put a fast-food executive in charge of the Labor Department. After running a campaign focused on the economy’s forgotten workers, Trump plucked the chief executive of the Hardee’s and Carl’s Jr. burger chains to lead the nation’s top workplace watchdog. While Andrew Puzder ran parent company CKE Restaurants, Hardee’s and Carl’s Jr. franchises around the country violated the very labor laws that Puzder would have been expected to enforce. Puzder’s nomination eventually went down in flames ― not due to his company’s labor record, but because of old domestic abuse allegations and because he’d personally employed an undocumented immigrant.
5. Goldman Sachs’ influence in the Trump White House doesn’t end with Mnuchin. Former Goldman Sachs president Gary Cohn’s influence in the West Wing has grown considerably in Trump’s first 100 days. Cohn’s developed such a strong hand internally that he is currently thought to be a leading contender for Reince Priebus’ job, should any staff shakeup create the need for a new White House chief of staff. As HuffPost has noted, “Cohn’s appointment as White House chief of staff wouldn’t just be a boon for bank lobbyists seeking lucrative new loopholes. It would be a restoration of finance to the center of American politics.”
6. Goldman Sachs’ influence in the Trump White House doesn’t end with Gary Cohn, either. Trump nominated former Sullivan & Cromwell partner Jay Clayton to chair the Securities and Exchange Commission, which is tasked with making sure the financial sector behaves itself. In the wake of Clayton’s nomination, his old firm carefully trimmed his 800-word biography ― which detailed his adventures helping Wall Street firms navigate the legal terrain in pursuit of mergers, acquisitions and capital market offerings ― down to a more concise 30.
Here’s an even more concise biography: Clayton is probably best known as Goldman Sachs’ bailout lawyer.
7. Trump named a billionaire investor as an anti-regulation czar. Trump named Carl Icahn as a special adviser on regulation, which is awkward, given the dozens and dozens of regulations that materially affect Ichan’s investments. He is particularly incensed by an EPA renewable fuel rule that applies to an oil refinery in which he owns a stake.
Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits. Peter Thiel, "Zero To One"
8. Trump named a huge fan of monopolies to lead the search for anti-trust regulators. Shortly after his inauguration, Trump gave billionaire Silicon Valley venture capitalist Peter Thiel the go-ahead to lead the search for his administration’s “top antitrust enforcement jobs.” Thiel, who sits on the board of world-devouring platform Facebook, came out as a committed monopolist in his book Zero To One: “Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits.”
9. Overall, Trump’s advisers live in an elitist bubble. As the Washington Post’s Philip Bump reported in April, Trump has staffed his White House with a collection of plutocrats who possess a staggering collective wealth: “Financial reports released by the Trump administration indicate that 27 staffers who work for him are worth a combined $2.3 billion thanks to real estate, investments and hefty salaries.” That’s more money than 86 counties’ worth of Trump voters make in a year.
10. Trump moved to kill a rule that forces Wall Street to act in the best interest of Americans saving for retirement. Trump signed a memo that put the fiduciary rule — which requires brokers act in the best interests of folks saving for retirement — on the path to the glue factory. His adviser Cohn likened the move to “freedom,” saying, “This is like putting only healthy food on the menu, because unhealthy food tastes good but you still shouldn’t eat it because you might die younger.”
Not exactly: The rule literally forbade brokers from guiding retirees “into expensive or poor-performing products that carry economic benefits and perks for the advisers and their firms, without disclosing such conflicts of interest.” It’s estimated that consumers lose $17 billion annually to such scams.
11. Trump took aim at post-crisis bank regulation. Trump signed an executive order in February that by itself doesn’t undo Dodd-Frank, but starts a process that could defang Wall Street oversight. Technically, the administration is still in the “just asking questions” phase of financial de-regulation, but Trump has been clear about his intentions, saying that “we expect to be cutting a lot out of Dodd-Frank.” Trump signed the order after a meeting earlier that day with big-time Wall Street executives, at one point telling JPMorgan Chase CEO Jamie Dimon, “There’s nobody better to tell me about Dodd-Frank than Jamie, so you’re going to tell me about it.”
Trump signed two more executive orders in April asking the Treasury Department to review governmental authority to take over failing financial companies, and to review rules that allow for the regulation of financial companies other than banks as systemically important.
12. Trump outlined a budget that’s broadly punitive to Trump’s own voters. The Washington Post’s Jenna Johnson reports Trump’s proposed budget includes cuts that “would disproportionately harm the rural areas and small towns that were key to his unexpected win.”
13. Trump has instigated a trade war that will hit Americans first. The Dallas Morning News reported that Texas cattle ranchers have emerged as the “first casualty” of Trump’s “blundering, blustering trade policy.” Per contributor Richard Parker: “By threatening a trade war with Mexico within days of inauguration, the president helped trigger a slide in cattle futures. Mexico is a major export market. By sinking the Trans-Pacific Partnership, the new administration cut off long-sought access to the Japanese market. Now banks have raised the conditions for collateral for loans for ranchers.”
14. Trump has backed health care proposals with a common theme: subsidize the wealthy while jacking up prices on the poor with shock cost increases. Both Trump-backed Obamacare replacements are broadly redistributive, but not in any discernibly populist direction. Rather, they shift wealth from poorer Americans to wealthier ones and corporations. People earning over a $1 million, in fact, would have “saved an estimated $165 billion in taxes over 10 years.” The tax benefits would be financed through draconian cuts to Medicaid and other health programs for the poor.
15. The plan also features substantial cuts in drug treatment protocols to address the nation’s opioid crisis. As CNN’s Dan Merica reported: “The current version of the Trump-backed Republican health care plan would end the Obamacare requirement that addiction services and mental health treatment be covered under Medicaid in the 31 states that expanded the health care program. The GOP plan would instead leave up to states ― and their budgets ― to decide whether to cover drug treatment and mental health services under Medicaid. That’s a decision advocates say could put the most vulnerable opiate abusers in greater risk, thanks to near-constant pressure on state budgets.”
16. Good news for employers who like stealing from their workers! Trump signed a bill, sent to him by Congress, that repeals the sensible-sounding Fair Pay and Safe Workplaces rule, put in place by Obama. The rule would have required companies to disclose labor law violations when they bid on federal contracts, so that the government doesn’t steer taxpayer dollars toward companies that cheat or endanger workers. By repealing the rule, Trump did a favor for companies that have a history of wage theft and workplace hazards.  
17. Trump delayed a life-saving protection for construction workers. Earlier this month, Trump put a halt to the most consequential workplace safety reform of the last decade. The so-called silica rule would reduce the amount of cancer-causing dust that companies can legally expose construction workers to. The tighter regulations rolled out last year were 45 years in the making and are projected to save 600 lives per year. But the Trump administration announced a three-month delay to enforcing the rule, drawing applause from the construction industry. Workplace watchdogs now worry the regulations will be watered down or scrapped altogether.
18. Trump made it harder for low-wage workers to save for retirement. The Obama administration took steps to popularize what are known as automatic IRA accounts. These are government-sponsored retirement plans set up for people who don’t have IRA’s through their jobs, i.e., much of the working class and working poor. Even though these plans once enjoyed conservative support, Trump repealed Obama’s executive order that would have made it easier for cities and counties to set up these auto-IRA’s. That surely pleased Wall Street, which doesn’t like how these IRA’s compete with its own offerings.
19. Trump made it easier for employers to hide worker injuries. Earlier this month, Trump loosened the record-keeping requirements for employers in dangerous industries. Instead of having to keep accurate injury records for six years, employers can only be held accountable for the last six months. Occupational health experts say the change will make it easier for companies to sweep injuries under the rug. “This will give license to employers to keep fraudulent records and to willfully violate the law with impunity,” a former OSHA policy adviser told HuffPost.
20. Trump weakened rules on lobbyists working in his administration. Trump signed an executive order that allows lobbyists to join his administration, provided they don’t work for two years on any issue on which they lobbied. (The Obama administration barred anyone who had been registered as a lobbyist in the prior year from joining.)
As a result, someone like Geoffrey Burr, who lobbied the Labor Department in opposition to wages rules and worker safety measures, can work in the Trump administration’s Labor Department.
21. Trump allowed coal companies to dump waste in streams. Trump signed a bill killing the Obama administration’s Stream Protection Rule, which aimed to keep toxic metals out of water supplies in coal country.
22. Trump froze Environmental Protection Agency contracts grants. The Trump team put a temporary halt to funding for routinely contracted work like drinking water testing, ProPublica reported.
23. Trump’s FCC kept the prices sky-high for families who call loved ones in prison. Prison phone calls are absurdly expensive, averaging around $3 for a 15-minute in-state call. Activists have been trying to bring the cost down for years.
In 2015, federal regulators approved a rule that capped charges at 11 cents per minute. The industry sued, and Trump’s new head of the FCC, Ajit Pai, recently announced the agency would not defend the rule in court.
24. The FCC also blocked nine internet service providers from a federal subsidy program for low-income Americans. Pai undid a move that allowed internet service providers to participate in the Lifeline program, which gives a $9.25-per-month credit to households to buy internet service.
25. Trump’s EPA killed a rule to protect people from mercury exposure. The EPA withdrew a rule requiring dentists’ offices to install equipment to dispose of fillings that contain mercury as an alternative to washing them down the drain. Mercury can hurt pregnant women and kids even at low levels.
26. Troubling signs for civil asset forfeiture reform. During a White House meeting with county sheriffs from across the country, Trump offered to help “destroy the career” of Texas state Sen. Juan Hinojosa after one of the sheriffs in attendance complained about Hinojosa’s efforts to curtail the oft-abused practice of civil asset forfeiture.
27. Big military budget build-up has little for the soldiers on the front lines. Trump has planned to funnel taxpayer dollars into the military in a bid to beef up its budget. But as of now, the principal beneficiary of this largesse will continue to be wealthy military contractors and Pentagon elites. As HuffPost’s David Wood reported, very little will trickle down to working-class service members, who typically deploy with “budget leftovers” such as “antiquated rifles, helicopters built for their grandfathers during the Vietnam War and communications gear that is overweight and unreliable.” The men and women who are training to fight in the next war have “weapons that don’t work, trucks that are broken down, [and] combat exercises canceled for lack of money.”
28. Plans are afoot to make it easier for corporations to get out of paying their taxes. Trump signed an executive order this month asking the Treasury Department to look at all Obama-era tax rules. Anything that’s too much of a burden or too complex in the eyes of Secretary Mnuchin could get axed. The main target appears to be rules put in place to cut down on tax inversions, in which an American company acquires a foreign company and relocates abroad to cut down on its U.S. taxes.
29. And now, Trump has proposed a massive tax cut for America’s elites: Just ahead of the (largely arbitrary) “100 Days” deadline, the White House issued a single-page statement of principles that outlines a massive tax cut for America’s richest citizens. In HuffPost’s analysis, the wealthy would benefit from “reducing the tax rate on stocks, bonds and real estate investments; eliminating inheritance taxes for millionaire heirs and heiresses; and bringing down the tax rate on the largest corporations to less than half of what it is now.” According to the Center for Economic Policy and Research, Trump would himself receive a tax break windfall under this plan, to the tune of $65 million.
Appropriately, the punchline of Trump’s faux-populist joke is, “The Aristocrats!”
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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rtscrndr53704 ¡ 8 years ago
Text
In 100 Days, Trump Has Found 29 Ways To Screw Regular Americans
President Donald Trump campaigned as a champion of forgotten and downtrodden Americans ― a risible but tried-and-true platform ― but the first 100 days of his presidency have been decidedly un-populist.
Amid Trump’s deluge of unsubstantiated claims and the chaos of his administration, it can be challenging to keep track of what campaign promises he has or hasn’t fulfilled.
So here’s a list of 29 things Trump has done so far that cater to big business at the expense of ordinary Americans:
1. Trump reversed a planned decrease in the cost of mortgage insurance for working- and middle-class homebuyers. Within hours of being sworn in, Trump put a hold on a reduction in the cost of Federal Housing Authority mortgage insurance. The move means 750,000 to 850,000 Americans will face higher costs in the next year alone, according to the National Association of Realtors.
2. He nominated to run the Treasury Department a second-generation Goldman Sachs partner and hedge fund manager who activists say ran a “foreclosure machine.” Steven Mnuchin misled senators by saying the bank he invested in and ran didn’t use illegal robo-signings (documents showed they did) and omitted $100 million in assets from his personal financial disclosure forms. Oh, and the Department of Housing and Urban Development is investigating claims his bank engaged in the racist practice of redlining.
3. Mnuchin is painfully under-informed about automation’s potential to decimate labor. In an interview with Axios’ Mike Allen, Mnuchin said he was “not at all” concerned about the potential shocks to the labor market that advances in automation might have, insisting that the timeline for such concerns was “50 or 100 years.”
As The Verge’s Adi Robinson noted, “[a] December report from the White House cited studies that estimate automation will affect between 9 percent and 47 percent of jobs over the next 10 to 20 years.”
4. Trump tried to put a fast-food executive in charge of the Labor Department. After running a campaign focused on the economy’s forgotten workers, Trump plucked the chief executive of the Hardee’s and Carl’s Jr. burger chains to lead the nation’s top workplace watchdog. While Andrew Puzder ran parent company CKE Restaurants, Hardee’s and Carl’s Jr. franchises around the country violated the very labor laws that Puzder would have been expected to enforce. Puzder’s nomination eventually went down in flames ― not due to his company’s labor record, but because of old domestic abuse allegations and because he’d personally employed an undocumented immigrant.
5. Goldman Sachs’ influence in the Trump White House doesn’t end with Mnuchin. Former Goldman Sachs president Gary Cohn’s influence in the West Wing has grown considerably in Trump’s first 100 days. Cohn’s developed such a strong hand internally that he is currently thought to be a leading contender for Reince Priebus’ job, should any staff shakeup create the need for a new White House chief of staff. As HuffPost has noted, “Cohn’s appointment as White House chief of staff wouldn’t just be a boon for bank lobbyists seeking lucrative new loopholes. It would be a restoration of finance to the center of American politics.”
6. Goldman Sachs’ influence in the Trump White House doesn’t end with Gary Cohn, either. Trump nominated former Sullivan & Cromwell partner Jay Clayton to chair the Securities and Exchange Commission, which is tasked with making sure the financial sector behaves itself. In the wake of Clayton’s nomination, his old firm carefully trimmed his 800-word biography ― which detailed his adventures helping Wall Street firms navigate the legal terrain in pursuit of mergers, acquisitions and capital market offerings ― down to a more concise 30.
Here’s an even more concise biography: Clayton is probably best known as Goldman Sachs’ bailout lawyer.
7. Trump named a billionaire investor as an anti-regulation czar. Trump named Carl Icahn as a special adviser on regulation, which is awkward, given the dozens and dozens of regulations that materially affect Ichan’s investments. He is particularly incensed by an EPA renewable fuel rule that applies to an oil refinery in which he owns a stake.
Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits. Peter Thiel, "Zero To One"
8. Trump named a huge fan of monopolies to lead the search for anti-trust regulators. Shortly after his inauguration, Trump gave billionaire Silicon Valley venture capitalist Peter Thiel the go-ahead to lead the search for his administration’s “top antitrust enforcement jobs.” Thiel, who sits on the board of world-devouring platform Facebook, came out as a committed monopolist in his book Zero To One: “Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits.”
9. Overall, Trump’s advisers live in an elitist bubble. As the Washington Post’s Philip Bump reported in April, Trump has staffed his White House with a collection of plutocrats who possess a staggering collective wealth: “Financial reports released by the Trump administration indicate that 27 staffers who work for him are worth a combined $2.3 billion thanks to real estate, investments and hefty salaries.” That’s more money than 86 counties’ worth of Trump voters make in a year.
10. Trump moved to kill a rule that forces Wall Street to act in the best interest of Americans saving for retirement. Trump signed a memo that put the fiduciary rule — which requires brokers act in the best interests of folks saving for retirement — on the path to the glue factory. His adviser Cohn likened the move to “freedom,” saying, “This is like putting only healthy food on the menu, because unhealthy food tastes good but you still shouldn’t eat it because you might die younger.”
Not exactly: The rule literally forbade brokers from guiding retirees “into expensive or poor-performing products that carry economic benefits and perks for the advisers and their firms, without disclosing such conflicts of interest.” It’s estimated that consumers lose $17 billion annually to such scams.
11. Trump took aim at post-crisis bank regulation. Trump signed an executive order in February that by itself doesn’t undo Dodd-Frank, but starts a process that could defang Wall Street oversight. Technically, the administration is still in the “just asking questions” phase of financial de-regulation, but Trump has been clear about his intentions, saying that “we expect to be cutting a lot out of Dodd-Frank.” Trump signed the order after a meeting earlier that day with big-time Wall Street executives, at one point telling JPMorgan Chase CEO Jamie Dimon, “There’s nobody better to tell me about Dodd-Frank than Jamie, so you’re going to tell me about it.”
Trump signed two more executive orders in April asking the Treasury Department to review governmental authority to take over failing financial companies, and to review rules that allow for the regulation of financial companies other than banks as systemically important.
12. Trump outlined a budget that’s broadly punitive to Trump’s own voters. The Washington Post’s Jenna Johnson reports Trump’s proposed budget includes cuts that “would disproportionately harm the rural areas and small towns that were key to his unexpected win.”
13. Trump has instigated a trade war that will hit Americans first. The Dallas Morning News reported that Texas cattle ranchers have emerged as the “first casualty” of Trump’s “blundering, blustering trade policy.” Per contributor Richard Parker: “By threatening a trade war with Mexico within days of inauguration, the president helped trigger a slide in cattle futures. Mexico is a major export market. By sinking the Trans-Pacific Partnership, the new administration cut off long-sought access to the Japanese market. Now banks have raised the conditions for collateral for loans for ranchers.”
14. Trump has backed health care proposals with a common theme: subsidize the wealthy while jacking up prices on the poor with shock cost increases. Both Trump-backed Obamacare replacements are broadly redistributive, but not in any discernibly populist direction. Rather, they shift wealth from poorer Americans to wealthier ones and corporations. People earning over a $1 million, in fact, would have “saved an estimated $165 billion in taxes over 10 years.” The tax benefits would be financed through draconian cuts to Medicaid and other health programs for the poor.
15. The plan also features substantial cuts in drug treatment protocols to address the nation’s opioid crisis. As CNN’s Dan Merica reported: “The current version of the Trump-backed Republican health care plan would end the Obamacare requirement that addiction services and mental health treatment be covered under Medicaid in the 31 states that expanded the health care program. The GOP plan would instead leave up to states ― and their budgets ― to decide whether to cover drug treatment and mental health services under Medicaid. That’s a decision advocates say could put the most vulnerable opiate abusers in greater risk, thanks to near-constant pressure on state budgets.”
16. Good news for employers who like stealing from their workers! Trump signed a bill, sent to him by Congress, that repeals the sensible-sounding Fair Pay and Safe Workplaces rule, put in place by Obama. The rule would have required companies to disclose labor law violations when they bid on federal contracts, so that the government doesn’t steer taxpayer dollars toward companies that cheat or endanger workers. By repealing the rule, Trump did a favor for companies that have a history of wage theft and workplace hazards.  
17. Trump delayed a life-saving protection for construction workers. Earlier this month, Trump put a halt to the most consequential workplace safety reform of the last decade. The so-called silica rule would reduce the amount of cancer-causing dust that companies can legally expose construction workers to. The tighter regulations rolled out last year were 45 years in the making and are projected to save 600 lives per year. But the Trump administration announced a three-month delay to enforcing the rule, drawing applause from the construction industry. Workplace watchdogs now worry the regulations will be watered down or scrapped altogether.
18. Trump made it harder for low-wage workers to save for retirement. The Obama administration took steps to popularize what are known as automatic IRA accounts. These are government-sponsored retirement plans set up for people who don’t have IRA’s through their jobs, i.e., much of the working class and working poor. Even though these plans once enjoyed conservative support, Trump repealed Obama’s executive order that would have made it easier for cities and counties to set up these auto-IRA’s. That surely pleased Wall Street, which doesn’t like how these IRA’s compete with its own offerings.
19. Trump made it easier for employers to hide worker injuries. Earlier this month, Trump loosened the record-keeping requirements for employers in dangerous industries. Instead of having to keep accurate injury records for six years, employers can only be held accountable for the last six months. Occupational health experts say the change will make it easier for companies to sweep injuries under the rug. “This will give license to employers to keep fraudulent records and to willfully violate the law with impunity,” a former OSHA policy adviser told HuffPost.
20. Trump weakened rules on lobbyists working in his administration. Trump signed an executive order that allows lobbyists to join his administration, provided they don’t work for two years on any issue on which they lobbied. (The Obama administration barred anyone who had been registered as a lobbyist in the prior year from joining.)
As a result, someone like Geoffrey Burr, who lobbied the Labor Department in opposition to wages rules and worker safety measures, can work in the Trump administration’s Labor Department.
21. Trump allowed coal companies to dump waste in streams. Trump signed a bill killing the Obama administration’s Stream Protection Rule, which aimed to keep toxic metals out of water supplies in coal country.
22. Trump froze Environmental Protection Agency contracts grants. The Trump team put a temporary halt to funding for routinely contracted work like drinking water testing, ProPublica reported.
23. Trump’s FCC kept the prices sky-high for families who call loved ones in prison. Prison phone calls are absurdly expensive, averaging around $3 for a 15-minute in-state call. Activists have been trying to bring the cost down for years.
In 2015, federal regulators approved a rule that capped charges at 11 cents per minute. The industry sued, and Trump’s new head of the FCC, Ajit Pai, recently announced the agency would not defend the rule in court.
24. The FCC also blocked nine internet service providers from a federal subsidy program for low-income Americans. Pai undid a move that allowed internet service providers to participate in the Lifeline program, which gives a $9.25-per-month credit to households to buy internet service.
25. Trump’s EPA killed a rule to protect people from mercury exposure. The EPA withdrew a rule requiring dentists’ offices to install equipment to dispose of fillings that contain mercury as an alternative to washing them down the drain. Mercury can hurt pregnant women and kids even at low levels.
26. Troubling signs for civil asset forfeiture reform. During a White House meeting with county sheriffs from across the country, Trump offered to help “destroy the career” of Texas state Sen. Juan Hinojosa after one of the sheriffs in attendance complained about Hinojosa’s efforts to curtail the oft-abused practice of civil asset forfeiture.
27. Big military budget build-up has little for the soldiers on the front lines. Trump has planned to funnel taxpayer dollars into the military in a bid to beef up its budget. But as of now, the principal beneficiary of this largesse will continue to be wealthy military contractors and Pentagon elites. As HuffPost’s David Wood reported, very little will trickle down to working-class service members, who typically deploy with “budget leftovers” such as “antiquated rifles, helicopters built for their grandfathers during the Vietnam War and communications gear that is overweight and unreliable.” The men and women who are training to fight in the next war have “weapons that don’t work, trucks that are broken down, [and] combat exercises canceled for lack of money.”
28. Plans are afoot to make it easier for corporations to get out of paying their taxes. Trump signed an executive order this month asking the Treasury Department to look at all Obama-era tax rules. Anything that’s too much of a burden or too complex in the eyes of Secretary Mnuchin could get axed. The main target appears to be rules put in place to cut down on tax inversions, in which an American company acquires a foreign company and relocates abroad to cut down on its U.S. taxes.
29. And now, Trump has proposed a massive tax cut for America’s elites: Just ahead of the (largely arbitrary) “100 Days” deadline, the White House issued a single-page statement of principles that outlines a massive tax cut for America’s richest citizens. In HuffPost’s analysis, the wealthy would benefit from “reducing the tax rate on stocks, bonds and real estate investments; eliminating inheritance taxes for millionaire heirs and heiresses; and bringing down the tax rate on the largest corporations to less than half of what it is now.” According to the Center for Economic Policy and Research, Trump would himself receive a tax break windfall under this plan, to the tune of $65 million.
Appropriately, the punchline of Trump’s faux-populist joke is, “The Aristocrats!”
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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0 notes
porchenclose10019 ¡ 8 years ago
Text
In 100 Days, Trump Has Found 29 Ways To Screw Regular Americans
President Donald Trump campaigned as a champion of forgotten and downtrodden Americans ― a risible but tried-and-true platform ― but the first 100 days of his presidency have been decidedly un-populist.
Amid Trump’s deluge of unsubstantiated claims and the chaos of his administration, it can be challenging to keep track of what campaign promises he has or hasn’t fulfilled.
So here’s a list of 29 things Trump has done so far that cater to big business at the expense of ordinary Americans:
1. Trump reversed a planned decrease in the cost of mortgage insurance for working- and middle-class homebuyers. Within hours of being sworn in, Trump put a hold on a reduction in the cost of Federal Housing Authority mortgage insurance. The move means 750,000 to 850,000 Americans will face higher costs in the next year alone, according to the National Association of Realtors.
2. He nominated to run the Treasury Department a second-generation Goldman Sachs partner and hedge fund manager who activists say ran a “foreclosure machine.” Steven Mnuchin misled senators by saying the bank he invested in and ran didn’t use illegal robo-signings (documents showed they did) and omitted $100 million in assets from his personal financial disclosure forms. Oh, and the Department of Housing and Urban Development is investigating claims his bank engaged in the racist practice of redlining.
3. Mnuchin is painfully under-informed about automation’s potential to decimate labor. In an interview with Axios’ Mike Allen, Mnuchin said he was “not at all” concerned about the potential shocks to the labor market that advances in automation might have, insisting that the timeline for such concerns was “50 or 100 years.”
As The Verge’s Adi Robinson noted, “[a] December report from the White House cited studies that estimate automation will affect between 9 percent and 47 percent of jobs over the next 10 to 20 years.”
4. Trump tried to put a fast-food executive in charge of the Labor Department. After running a campaign focused on the economy’s forgotten workers, Trump plucked the chief executive of the Hardee’s and Carl’s Jr. burger chains to lead the nation’s top workplace watchdog. While Andrew Puzder ran parent company CKE Restaurants, Hardee’s and Carl’s Jr. franchises around the country violated the very labor laws that Puzder would have been expected to enforce. Puzder’s nomination eventually went down in flames ― not due to his company’s labor record, but because of old domestic abuse allegations and because he’d personally employed an undocumented immigrant.
5. Goldman Sachs’ influence in the Trump White House doesn’t end with Mnuchin. Former Goldman Sachs president Gary Cohn’s influence in the West Wing has grown considerably in Trump’s first 100 days. Cohn’s developed such a strong hand internally that he is currently thought to be a leading contender for Reince Priebus’ job, should any staff shakeup create the need for a new White House chief of staff. As HuffPost has noted, “Cohn’s appointment as White House chief of staff wouldn’t just be a boon for bank lobbyists seeking lucrative new loopholes. It would be a restoration of finance to the center of American politics.”
6. Goldman Sachs’ influence in the Trump White House doesn’t end with Gary Cohn, either. Trump nominated former Sullivan & Cromwell partner Jay Clayton to chair the Securities and Exchange Commission, which is tasked with making sure the financial sector behaves itself. In the wake of Clayton’s nomination, his old firm carefully trimmed his 800-word biography ― which detailed his adventures helping Wall Street firms navigate the legal terrain in pursuit of mergers, acquisitions and capital market offerings ― down to a more concise 30.
Here’s an even more concise biography: Clayton is probably best known as Goldman Sachs’ bailout lawyer.
7. Trump named a billionaire investor as an anti-regulation czar. Trump named Carl Icahn as a special adviser on regulation, which is awkward, given the dozens and dozens of regulations that materially affect Ichan’s investments. He is particularly incensed by an EPA renewable fuel rule that applies to an oil refinery in which he owns a stake.
Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits. Peter Thiel, "Zero To One"
8. Trump named a huge fan of monopolies to lead the search for anti-trust regulators. Shortly after his inauguration, Trump gave billionaire Silicon Valley venture capitalist Peter Thiel the go-ahead to lead the search for his administration’s “top antitrust enforcement jobs.” Thiel, who sits on the board of world-devouring platform Facebook, came out as a committed monopolist in his book Zero To One: “Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits.”
9. Overall, Trump’s advisers live in an elitist bubble. As the Washington Post’s Philip Bump reported in April, Trump has staffed his White House with a collection of plutocrats who possess a staggering collective wealth: “Financial reports released by the Trump administration indicate that 27 staffers who work for him are worth a combined $2.3 billion thanks to real estate, investments and hefty salaries.” That’s more money than 86 counties’ worth of Trump voters make in a year.
10. Trump moved to kill a rule that forces Wall Street to act in the best interest of Americans saving for retirement. Trump signed a memo that put the fiduciary rule — which requires brokers act in the best interests of folks saving for retirement — on the path to the glue factory. His adviser Cohn likened the move to “freedom,” saying, “This is like putting only healthy food on the menu, because unhealthy food tastes good but you still shouldn’t eat it because you might die younger.”
Not exactly: The rule literally forbade brokers from guiding retirees “into expensive or poor-performing products that carry economic benefits and perks for the advisers and their firms, without disclosing such conflicts of interest.” It’s estimated that consumers lose $17 billion annually to such scams.
11. Trump took aim at post-crisis bank regulation. Trump signed an executive order in February that by itself doesn’t undo Dodd-Frank, but starts a process that could defang Wall Street oversight. Technically, the administration is still in the “just asking questions” phase of financial de-regulation, but Trump has been clear about his intentions, saying that “we expect to be cutting a lot out of Dodd-Frank.” Trump signed the order after a meeting earlier that day with big-time Wall Street executives, at one point telling JPMorgan Chase CEO Jamie Dimon, “There’s nobody better to tell me about Dodd-Frank than Jamie, so you’re going to tell me about it.”
Trump signed two more executive orders in April asking the Treasury Department to review governmental authority to take over failing financial companies, and to review rules that allow for the regulation of financial companies other than banks as systemically important.
12. Trump outlined a budget that’s broadly punitive to Trump’s own voters. The Washington Post’s Jenna Johnson reports Trump’s proposed budget includes cuts that “would disproportionately harm the rural areas and small towns that were key to his unexpected win.”
13. Trump has instigated a trade war that will hit Americans first. The Dallas Morning News reported that Texas cattle ranchers have emerged as the “first casualty” of Trump’s “blundering, blustering trade policy.” Per contributor Richard Parker: “By threatening a trade war with Mexico within days of inauguration, the president helped trigger a slide in cattle futures. Mexico is a major export market. By sinking the Trans-Pacific Partnership, the new administration cut off long-sought access to the Japanese market. Now banks have raised the conditions for collateral for loans for ranchers.”
14. Trump has backed health care proposals with a common theme: subsidize the wealthy while jacking up prices on the poor with shock cost increases. Both Trump-backed Obamacare replacements are broadly redistributive, but not in any discernibly populist direction. Rather, they shift wealth from poorer Americans to wealthier ones and corporations. People earning over a $1 million, in fact, would have “saved an estimated $165 billion in taxes over 10 years.” The tax benefits would be financed through draconian cuts to Medicaid and other health programs for the poor.
15. The plan also features substantial cuts in drug treatment protocols to address the nation’s opioid crisis. As CNN’s Dan Merica reported: “The current version of the Trump-backed Republican health care plan would end the Obamacare requirement that addiction services and mental health treatment be covered under Medicaid in the 31 states that expanded the health care program. The GOP plan would instead leave up to states ― and their budgets ― to decide whether to cover drug treatment and mental health services under Medicaid. That’s a decision advocates say could put the most vulnerable opiate abusers in greater risk, thanks to near-constant pressure on state budgets.”
16. Good news for employers who like stealing from their workers! Trump signed a bill, sent to him by Congress, that repeals the sensible-sounding Fair Pay and Safe Workplaces rule, put in place by Obama. The rule would have required companies to disclose labor law violations when they bid on federal contracts, so that the government doesn’t steer taxpayer dollars toward companies that cheat or endanger workers. By repealing the rule, Trump did a favor for companies that have a history of wage theft and workplace hazards.  
17. Trump delayed a life-saving protection for construction workers. Earlier this month, Trump put a halt to the most consequential workplace safety reform of the last decade. The so-called silica rule would reduce the amount of cancer-causing dust that companies can legally expose construction workers to. The tighter regulations rolled out last year were 45 years in the making and are projected to save 600 lives per year. But the Trump administration announced a three-month delay to enforcing the rule, drawing applause from the construction industry. Workplace watchdogs now worry the regulations will be watered down or scrapped altogether.
18. Trump made it harder for low-wage workers to save for retirement. The Obama administration took steps to popularize what are known as automatic IRA accounts. These are government-sponsored retirement plans set up for people who don’t have IRA’s through their jobs, i.e., much of the working class and working poor. Even though these plans once enjoyed conservative support, Trump repealed Obama’s executive order that would have made it easier for cities and counties to set up these auto-IRA’s. That surely pleased Wall Street, which doesn’t like how these IRA’s compete with its own offerings.
19. Trump made it easier for employers to hide worker injuries. Earlier this month, Trump loosened the record-keeping requirements for employers in dangerous industries. Instead of having to keep accurate injury records for six years, employers can only be held accountable for the last six months. Occupational health experts say the change will make it easier for companies to sweep injuries under the rug. “This will give license to employers to keep fraudulent records and to willfully violate the law with impunity,” a former OSHA policy adviser told HuffPost.
20. Trump weakened rules on lobbyists working in his administration. Trump signed an executive order that allows lobbyists to join his administration, provided they don’t work for two years on any issue on which they lobbied. (The Obama administration barred anyone who had been registered as a lobbyist in the prior year from joining.)
As a result, someone like Geoffrey Burr, who lobbied the Labor Department in opposition to wages rules and worker safety measures, can work in the Trump administration’s Labor Department.
21. Trump allowed coal companies to dump waste in streams. Trump signed a bill killing the Obama administration’s Stream Protection Rule, which aimed to keep toxic metals out of water supplies in coal country.
22. Trump froze Environmental Protection Agency contracts grants. The Trump team put a temporary halt to funding for routinely contracted work like drinking water testing, ProPublica reported.
23. Trump’s FCC kept the prices sky-high for families who call loved ones in prison. Prison phone calls are absurdly expensive, averaging around $3 for a 15-minute in-state call. Activists have been trying to bring the cost down for years.
In 2015, federal regulators approved a rule that capped charges at 11 cents per minute. The industry sued, and Trump’s new head of the FCC, Ajit Pai, recently announced the agency would not defend the rule in court.
24. The FCC also blocked nine internet service providers from a federal subsidy program for low-income Americans. Pai undid a move that allowed internet service providers to participate in the Lifeline program, which gives a $9.25-per-month credit to households to buy internet service.
25. Trump’s EPA killed a rule to protect people from mercury exposure. The EPA withdrew a rule requiring dentists’ offices to install equipment to dispose of fillings that contain mercury as an alternative to washing them down the drain. Mercury can hurt pregnant women and kids even at low levels.
26. Troubling signs for civil asset forfeiture reform. During a White House meeting with county sheriffs from across the country, Trump offered to help “destroy the career” of Texas state Sen. Juan Hinojosa after one of the sheriffs in attendance complained about Hinojosa’s efforts to curtail the oft-abused practice of civil asset forfeiture.
27. Big military budget build-up has little for the soldiers on the front lines. Trump has planned to funnel taxpayer dollars into the military in a bid to beef up its budget. But as of now, the principal beneficiary of this largesse will continue to be wealthy military contractors and Pentagon elites. As HuffPost’s David Wood reported, very little will trickle down to working-class service members, who typically deploy with “budget leftovers” such as “antiquated rifles, helicopters built for their grandfathers during the Vietnam War and communications gear that is overweight and unreliable.” The men and women who are training to fight in the next war have “weapons that don’t work, trucks that are broken down, [and] combat exercises canceled for lack of money.”
28. Plans are afoot to make it easier for corporations to get out of paying their taxes. Trump signed an executive order this month asking the Treasury Department to look at all Obama-era tax rules. Anything that’s too much of a burden or too complex in the eyes of Secretary Mnuchin could get axed. The main target appears to be rules put in place to cut down on tax inversions, in which an American company acquires a foreign company and relocates abroad to cut down on its U.S. taxes.
29. And now, Trump has proposed a massive tax cut for America’s elites: Just ahead of the (largely arbitrary) “100 Days” deadline, the White House issued a single-page statement of principles that outlines a massive tax cut for America’s richest citizens. In HuffPost’s analysis, the wealthy would benefit from “reducing the tax rate on stocks, bonds and real estate investments; eliminating inheritance taxes for millionaire heirs and heiresses; and bringing down the tax rate on the largest corporations to less than half of what it is now.” According to the Center for Economic Policy and Research, Trump would himself receive a tax break windfall under this plan, to the tune of $65 million.
Appropriately, the punchline of Trump’s faux-populist joke is, “The Aristocrats!”
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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grgedoors02142 ¡ 8 years ago
Text
In 100 Days, Trump Has Found 29 Ways To Screw Regular Americans
President Donald Trump campaigned as a champion of forgotten and downtrodden Americans ― a risible but tried-and-true platform ― but the first 100 days of his presidency have been decidedly un-populist.
Amid Trump’s deluge of unsubstantiated claims and the chaos of his administration, it can be challenging to keep track of what campaign promises he has or hasn’t fulfilled.
So here’s a list of 29 things Trump has done so far that cater to big business at the expense of ordinary Americans:
1. Trump reversed a planned decrease in the cost of mortgage insurance for working- and middle-class homebuyers. Within hours of being sworn in, Trump put a hold on a reduction in the cost of Federal Housing Authority mortgage insurance. The move means 750,000 to 850,000 Americans will face higher costs in the next year alone, according to the National Association of Realtors.
2. He nominated to run the Treasury Department a second-generation Goldman Sachs partner and hedge fund manager who activists say ran a “foreclosure machine.” Steven Mnuchin misled senators by saying the bank he invested in and ran didn’t use illegal robo-signings (documents showed they did) and omitted $100 million in assets from his personal financial disclosure forms. Oh, and the Department of Housing and Urban Development is investigating claims his bank engaged in the racist practice of redlining.
3. Mnuchin is painfully under-informed about automation’s potential to decimate labor. In an interview with Axios’ Mike Allen, Mnuchin said he was “not at all” concerned about the potential shocks to the labor market that advances in automation might have, insisting that the timeline for such concerns was “50 or 100 years.”
As The Verge’s Adi Robinson noted, “[a] December report from the White House cited studies that estimate automation will affect between 9 percent and 47 percent of jobs over the next 10 to 20 years.”
4. Trump tried to put a fast-food executive in charge of the Labor Department. After running a campaign focused on the economy’s forgotten workers, Trump plucked the chief executive of the Hardee’s and Carl’s Jr. burger chains to lead the nation’s top workplace watchdog. While Andrew Puzder ran parent company CKE Restaurants, Hardee’s and Carl’s Jr. franchises around the country violated the very labor laws that Puzder would have been expected to enforce. Puzder’s nomination eventually went down in flames ― not due to his company’s labor record, but because of old domestic abuse allegations and because he’d personally employed an undocumented immigrant.
5. Goldman Sachs’ influence in the Trump White House doesn’t end with Mnuchin. Former Goldman Sachs president Gary Cohn’s influence in the West Wing has grown considerably in Trump’s first 100 days. Cohn’s developed such a strong hand internally that he is currently thought to be a leading contender for Reince Priebus’ job, should any staff shakeup create the need for a new White House chief of staff. As HuffPost has noted, “Cohn’s appointment as White House chief of staff wouldn’t just be a boon for bank lobbyists seeking lucrative new loopholes. It would be a restoration of finance to the center of American politics.”
6. Goldman Sachs’ influence in the Trump White House doesn’t end with Gary Cohn, either. Trump nominated former Sullivan & Cromwell partner Jay Clayton to chair the Securities and Exchange Commission, which is tasked with making sure the financial sector behaves itself. In the wake of Clayton’s nomination, his old firm carefully trimmed his 800-word biography ― which detailed his adventures helping Wall Street firms navigate the legal terrain in pursuit of mergers, acquisitions and capital market offerings ― down to a more concise 30.
Here’s an even more concise biography: Clayton is probably best known as Goldman Sachs’ bailout lawyer.
7. Trump named a billionaire investor as an anti-regulation czar. Trump named Carl Icahn as a special adviser on regulation, which is awkward, given the dozens and dozens of regulations that materially affect Ichan’s investments. He is particularly incensed by an EPA renewable fuel rule that applies to an oil refinery in which he owns a stake.
Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits. Peter Thiel, "Zero To One"
8. Trump named a huge fan of monopolies to lead the search for anti-trust regulators. Shortly after his inauguration, Trump gave billionaire Silicon Valley venture capitalist Peter Thiel the go-ahead to lead the search for his administration’s “top antitrust enforcement jobs.” Thiel, who sits on the board of world-devouring platform Facebook, came out as a committed monopolist in his book Zero To One: “Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits.”
9. Overall, Trump’s advisers live in an elitist bubble. As the Washington Post’s Philip Bump reported in April, Trump has staffed his White House with a collection of plutocrats who possess a staggering collective wealth: “Financial reports released by the Trump administration indicate that 27 staffers who work for him are worth a combined $2.3 billion thanks to real estate, investments and hefty salaries.” That’s more money than 86 counties’ worth of Trump voters make in a year.
10. Trump moved to kill a rule that forces Wall Street to act in the best interest of Americans saving for retirement. Trump signed a memo that put the fiduciary rule — which requires brokers act in the best interests of folks saving for retirement — on the path to the glue factory. His adviser Cohn likened the move to “freedom,” saying, “This is like putting only healthy food on the menu, because unhealthy food tastes good but you still shouldn’t eat it because you might die younger.”
Not exactly: The rule literally forbade brokers from guiding retirees “into expensive or poor-performing products that carry economic benefits and perks for the advisers and their firms, without disclosing such conflicts of interest.” It’s estimated that consumers lose $17 billion annually to such scams.
11. Trump took aim at post-crisis bank regulation. Trump signed an executive order in February that by itself doesn’t undo Dodd-Frank, but starts a process that could defang Wall Street oversight. Technically, the administration is still in the “just asking questions” phase of financial de-regulation, but Trump has been clear about his intentions, saying that “we expect to be cutting a lot out of Dodd-Frank.” Trump signed the order after a meeting earlier that day with big-time Wall Street executives, at one point telling JPMorgan Chase CEO Jamie Dimon, “There’s nobody better to tell me about Dodd-Frank than Jamie, so you’re going to tell me about it.”
Trump signed two more executive orders in April asking the Treasury Department to review governmental authority to take over failing financial companies, and to review rules that allow for the regulation of financial companies other than banks as systemically important.
12. Trump outlined a budget that’s broadly punitive to Trump’s own voters. The Washington Post’s Jenna Johnson reports Trump’s proposed budget includes cuts that “would disproportionately harm the rural areas and small towns that were key to his unexpected win.”
13. Trump has instigated a trade war that will hit Americans first. The Dallas Morning News reported that Texas cattle ranchers have emerged as the “first casualty” of Trump’s “blundering, blustering trade policy.” Per contributor Richard Parker: “By threatening a trade war with Mexico within days of inauguration, the president helped trigger a slide in cattle futures. Mexico is a major export market. By sinking the Trans-Pacific Partnership, the new administration cut off long-sought access to the Japanese market. Now banks have raised the conditions for collateral for loans for ranchers.”
14. Trump has backed health care proposals with a common theme: subsidize the wealthy while jacking up prices on the poor with shock cost increases. Both Trump-backed Obamacare replacements are broadly redistributive, but not in any discernibly populist direction. Rather, they shift wealth from poorer Americans to wealthier ones and corporations. People earning over a $1 million, in fact, would have “saved an estimated $165 billion in taxes over 10 years.” The tax benefits would be financed through draconian cuts to Medicaid and other health programs for the poor.
15. The plan also features substantial cuts in drug treatment protocols to address the nation’s opioid crisis. As CNN’s Dan Merica reported: “The current version of the Trump-backed Republican health care plan would end the Obamacare requirement that addiction services and mental health treatment be covered under Medicaid in the 31 states that expanded the health care program. The GOP plan would instead leave up to states ― and their budgets ― to decide whether to cover drug treatment and mental health services under Medicaid. That’s a decision advocates say could put the most vulnerable opiate abusers in greater risk, thanks to near-constant pressure on state budgets.”
16. Good news for employers who like stealing from their workers! Trump signed a bill, sent to him by Congress, that repeals the sensible-sounding Fair Pay and Safe Workplaces rule, put in place by Obama. The rule would have required companies to disclose labor law violations when they bid on federal contracts, so that the government doesn’t steer taxpayer dollars toward companies that cheat or endanger workers. By repealing the rule, Trump did a favor for companies that have a history of wage theft and workplace hazards.  
17. Trump delayed a life-saving protection for construction workers. Earlier this month, Trump put a halt to the most consequential workplace safety reform of the last decade. The so-called silica rule would reduce the amount of cancer-causing dust that companies can legally expose construction workers to. The tighter regulations rolled out last year were 45 years in the making and are projected to save 600 lives per year. But the Trump administration announced a three-month delay to enforcing the rule, drawing applause from the construction industry. Workplace watchdogs now worry the regulations will be watered down or scrapped altogether.
18. Trump made it harder for low-wage workers to save for retirement. The Obama administration took steps to popularize what are known as automatic IRA accounts. These are government-sponsored retirement plans set up for people who don’t have IRA’s through their jobs, i.e., much of the working class and working poor. Even though these plans once enjoyed conservative support, Trump repealed Obama’s executive order that would have made it easier for cities and counties to set up these auto-IRA’s. That surely pleased Wall Street, which doesn’t like how these IRA’s compete with its own offerings.
19. Trump made it easier for employers to hide worker injuries. Earlier this month, Trump loosened the record-keeping requirements for employers in dangerous industries. Instead of having to keep accurate injury records for six years, employers can only be held accountable for the last six months. Occupational health experts say the change will make it easier for companies to sweep injuries under the rug. “This will give license to employers to keep fraudulent records and to willfully violate the law with impunity,” a former OSHA policy adviser told HuffPost.
20. Trump weakened rules on lobbyists working in his administration. Trump signed an executive order that allows lobbyists to join his administration, provided they don’t work for two years on any issue on which they lobbied. (The Obama administration barred anyone who had been registered as a lobbyist in the prior year from joining.)
As a result, someone like Geoffrey Burr, who lobbied the Labor Department in opposition to wages rules and worker safety measures, can work in the Trump administration’s Labor Department.
21. Trump allowed coal companies to dump waste in streams. Trump signed a bill killing the Obama administration’s Stream Protection Rule, which aimed to keep toxic metals out of water supplies in coal country.
22. Trump froze Environmental Protection Agency contracts grants. The Trump team put a temporary halt to funding for routinely contracted work like drinking water testing, ProPublica reported.
23. Trump’s FCC kept the prices sky-high for families who call loved ones in prison. Prison phone calls are absurdly expensive, averaging around $3 for a 15-minute in-state call. Activists have been trying to bring the cost down for years.
In 2015, federal regulators approved a rule that capped charges at 11 cents per minute. The industry sued, and Trump’s new head of the FCC, Ajit Pai, recently announced the agency would not defend the rule in court.
24. The FCC also blocked nine internet service providers from a federal subsidy program for low-income Americans. Pai undid a move that allowed internet service providers to participate in the Lifeline program, which gives a $9.25-per-month credit to households to buy internet service.
25. Trump’s EPA killed a rule to protect people from mercury exposure. The EPA withdrew a rule requiring dentists’ offices to install equipment to dispose of fillings that contain mercury as an alternative to washing them down the drain. Mercury can hurt pregnant women and kids even at low levels.
26. Troubling signs for civil asset forfeiture reform. During a White House meeting with county sheriffs from across the country, Trump offered to help “destroy the career” of Texas state Sen. Juan Hinojosa after one of the sheriffs in attendance complained about Hinojosa’s efforts to curtail the oft-abused practice of civil asset forfeiture.
27. Big military budget build-up has little for the soldiers on the front lines. Trump has planned to funnel taxpayer dollars into the military in a bid to beef up its budget. But as of now, the principal beneficiary of this largesse will continue to be wealthy military contractors and Pentagon elites. As HuffPost’s David Wood reported, very little will trickle down to working-class service members, who typically deploy with “budget leftovers” such as “antiquated rifles, helicopters built for their grandfathers during the Vietnam War and communications gear that is overweight and unreliable.” The men and women who are training to fight in the next war have “weapons that don’t work, trucks that are broken down, [and] combat exercises canceled for lack of money.”
28. Plans are afoot to make it easier for corporations to get out of paying their taxes. Trump signed an executive order this month asking the Treasury Department to look at all Obama-era tax rules. Anything that’s too much of a burden or too complex in the eyes of Secretary Mnuchin could get axed. The main target appears to be rules put in place to cut down on tax inversions, in which an American company acquires a foreign company and relocates abroad to cut down on its U.S. taxes.
29. And now, Trump has proposed a massive tax cut for America’s elites: Just ahead of the (largely arbitrary) “100 Days” deadline, the White House issued a single-page statement of principles that outlines a massive tax cut for America’s richest citizens. In HuffPost’s analysis, the wealthy would benefit from “reducing the tax rate on stocks, bonds and real estate investments; eliminating inheritance taxes for millionaire heirs and heiresses; and bringing down the tax rate on the largest corporations to less than half of what it is now.” According to the Center for Economic Policy and Research, Trump would himself receive a tax break windfall under this plan, to the tune of $65 million.
Appropriately, the punchline of Trump’s faux-populist joke is, “The Aristocrats!”
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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exfrenchdorsl4p0a1 ¡ 8 years ago
Text
In 100 Days, Trump Has Found 29 Ways To Screw Regular Americans
President Donald Trump campaigned as a champion of forgotten and downtrodden Americans ― a risible but tried-and-true platform ― but the first 100 days of his presidency have been decidedly un-populist.
Amid Trump’s deluge of unsubstantiated claims and the chaos of his administration, it can be challenging to keep track of what campaign promises he has or hasn’t fulfilled.
So here’s a list of 29 things Trump has done so far that cater to big business at the expense of ordinary Americans:
1. Trump reversed a planned decrease in the cost of mortgage insurance for working- and middle-class homebuyers. Within hours of being sworn in, Trump put a hold on a reduction in the cost of Federal Housing Authority mortgage insurance. The move means 750,000 to 850,000 Americans will face higher costs in the next year alone, according to the National Association of Realtors.
2. He nominated to run the Treasury Department a second-generation Goldman Sachs partner and hedge fund manager who activists say ran a “foreclosure machine.” Steven Mnuchin misled senators by saying the bank he invested in and ran didn’t use illegal robo-signings (documents showed they did) and omitted $100 million in assets from his personal financial disclosure forms. Oh, and the Department of Housing and Urban Development is investigating claims his bank engaged in the racist practice of redlining.
3. Mnuchin is painfully under-informed about automation’s potential to decimate labor. In an interview with Axios’ Mike Allen, Mnuchin said he was “not at all” concerned about the potential shocks to the labor market that advances in automation might have, insisting that the timeline for such concerns was “50 or 100 years.”
As The Verge’s Adi Robinson noted, “[a] December report from the White House cited studies that estimate automation will affect between 9 percent and 47 percent of jobs over the next 10 to 20 years.”
4. Trump tried to put a fast-food executive in charge of the Labor Department. After running a campaign focused on the economy’s forgotten workers, Trump plucked the chief executive of the Hardee’s and Carl’s Jr. burger chains to lead the nation’s top workplace watchdog. While Andrew Puzder ran parent company CKE Restaurants, Hardee’s and Carl’s Jr. franchises around the country violated the very labor laws that Puzder would have been expected to enforce. Puzder’s nomination eventually went down in flames ― not due to his company’s labor record, but because of old domestic abuse allegations and because he’d personally employed an undocumented immigrant.
5. Goldman Sachs’ influence in the Trump White House doesn’t end with Mnuchin. Former Goldman Sachs president Gary Cohn’s influence in the West Wing has grown considerably in Trump’s first 100 days. Cohn’s developed such a strong hand internally that he is currently thought to be a leading contender for Reince Priebus’ job, should any staff shakeup create the need for a new White House chief of staff. As HuffPost has noted, “Cohn’s appointment as White House chief of staff wouldn’t just be a boon for bank lobbyists seeking lucrative new loopholes. It would be a restoration of finance to the center of American politics.”
6. Goldman Sachs’ influence in the Trump White House doesn’t end with Gary Cohn, either. Trump nominated former Sullivan & Cromwell partner Jay Clayton to chair the Securities and Exchange Commission, which is tasked with making sure the financial sector behaves itself. In the wake of Clayton’s nomination, his old firm carefully trimmed his 800-word biography ― which detailed his adventures helping Wall Street firms navigate the legal terrain in pursuit of mergers, acquisitions and capital market offerings ― down to a more concise 30.
Here’s an even more concise biography: Clayton is probably best known as Goldman Sachs’ bailout lawyer.
7. Trump named a billionaire investor as an anti-regulation czar. Trump named Carl Icahn as a special adviser on regulation, which is awkward, given the dozens and dozens of regulations that materially affect Ichan’s investments. He is particularly incensed by an EPA renewable fuel rule that applies to an oil refinery in which he owns a stake.
Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits. Peter Thiel, "Zero To One"
8. Trump named a huge fan of monopolies to lead the search for anti-trust regulators. Shortly after his inauguration, Trump gave billionaire Silicon Valley venture capitalist Peter Thiel the go-ahead to lead the search for his administration’s “top antitrust enforcement jobs.” Thiel, who sits on the board of world-devouring platform Facebook, came out as a committed monopolist in his book Zero To One: “Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits.”
9. Overall, Trump’s advisers live in an elitist bubble. As the Washington Post’s Philip Bump reported in April, Trump has staffed his White House with a collection of plutocrats who possess a staggering collective wealth: “Financial reports released by the Trump administration indicate that 27 staffers who work for him are worth a combined $2.3 billion thanks to real estate, investments and hefty salaries.” That’s more money than 86 counties’ worth of Trump voters make in a year.
10. Trump moved to kill a rule that forces Wall Street to act in the best interest of Americans saving for retirement. Trump signed a memo that put the fiduciary rule — which requires brokers act in the best interests of folks saving for retirement — on the path to the glue factory. His adviser Cohn likened the move to “freedom,” saying, “This is like putting only healthy food on the menu, because unhealthy food tastes good but you still shouldn’t eat it because you might die younger.”
Not exactly: The rule literally forbade brokers from guiding retirees “into expensive or poor-performing products that carry economic benefits and perks for the advisers and their firms, without disclosing such conflicts of interest.” It’s estimated that consumers lose $17 billion annually to such scams.
11. Trump took aim at post-crisis bank regulation. Trump signed an executive order in February that by itself doesn’t undo Dodd-Frank, but starts a process that could defang Wall Street oversight. Technically, the administration is still in the “just asking questions” phase of financial de-regulation, but Trump has been clear about his intentions, saying that “we expect to be cutting a lot out of Dodd-Frank.” Trump signed the order after a meeting earlier that day with big-time Wall Street executives, at one point telling JPMorgan Chase CEO Jamie Dimon, “There’s nobody better to tell me about Dodd-Frank than Jamie, so you’re going to tell me about it.”
Trump signed two more executive orders in April asking the Treasury Department to review governmental authority to take over failing financial companies, and to review rules that allow for the regulation of financial companies other than banks as systemically important.
12. Trump outlined a budget that’s broadly punitive to Trump’s own voters. The Washington Post’s Jenna Johnson reports Trump’s proposed budget includes cuts that “would disproportionately harm the rural areas and small towns that were key to his unexpected win.”
13. Trump has instigated a trade war that will hit Americans first. The Dallas Morning News reported that Texas cattle ranchers have emerged as the “first casualty” of Trump’s “blundering, blustering trade policy.” Per contributor Richard Parker: “By threatening a trade war with Mexico within days of inauguration, the president helped trigger a slide in cattle futures. Mexico is a major export market. By sinking the Trans-Pacific Partnership, the new administration cut off long-sought access to the Japanese market. Now banks have raised the conditions for collateral for loans for ranchers.”
14. Trump has backed health care proposals with a common theme: subsidize the wealthy while jacking up prices on the poor with shock cost increases. Both Trump-backed Obamacare replacements are broadly redistributive, but not in any discernibly populist direction. Rather, they shift wealth from poorer Americans to wealthier ones and corporations. People earning over a $1 million, in fact, would have “saved an estimated $165 billion in taxes over 10 years.” The tax benefits would be financed through draconian cuts to Medicaid and other health programs for the poor.
15. The plan also features substantial cuts in drug treatment protocols to address the nation’s opioid crisis. As CNN’s Dan Merica reported: “The current version of the Trump-backed Republican health care plan would end the Obamacare requirement that addiction services and mental health treatment be covered under Medicaid in the 31 states that expanded the health care program. The GOP plan would instead leave up to states ― and their budgets ― to decide whether to cover drug treatment and mental health services under Medicaid. That’s a decision advocates say could put the most vulnerable opiate abusers in greater risk, thanks to near-constant pressure on state budgets.”
16. Good news for employers who like stealing from their workers! Trump signed a bill, sent to him by Congress, that repeals the sensible-sounding Fair Pay and Safe Workplaces rule, put in place by Obama. The rule would have required companies to disclose labor law violations when they bid on federal contracts, so that the government doesn’t steer taxpayer dollars toward companies that cheat or endanger workers. By repealing the rule, Trump did a favor for companies that have a history of wage theft and workplace hazards.  
17. Trump delayed a life-saving protection for construction workers. Earlier this month, Trump put a halt to the most consequential workplace safety reform of the last decade. The so-called silica rule would reduce the amount of cancer-causing dust that companies can legally expose construction workers to. The tighter regulations rolled out last year were 45 years in the making and are projected to save 600 lives per year. But the Trump administration announced a three-month delay to enforcing the rule, drawing applause from the construction industry. Workplace watchdogs now worry the regulations will be watered down or scrapped altogether.
18. Trump made it harder for low-wage workers to save for retirement. The Obama administration took steps to popularize what are known as automatic IRA accounts. These are government-sponsored retirement plans set up for people who don’t have IRA’s through their jobs, i.e., much of the working class and working poor. Even though these plans once enjoyed conservative support, Trump repealed Obama’s executive order that would have made it easier for cities and counties to set up these auto-IRA’s. That surely pleased Wall Street, which doesn’t like how these IRA’s compete with its own offerings.
19. Trump made it easier for employers to hide worker injuries. Earlier this month, Trump loosened the record-keeping requirements for employers in dangerous industries. Instead of having to keep accurate injury records for six years, employers can only be held accountable for the last six months. Occupational health experts say the change will make it easier for companies to sweep injuries under the rug. “This will give license to employers to keep fraudulent records and to willfully violate the law with impunity,” a former OSHA policy adviser told HuffPost.
20. Trump weakened rules on lobbyists working in his administration. Trump signed an executive order that allows lobbyists to join his administration, provided they don’t work for two years on any issue on which they lobbied. (The Obama administration barred anyone who had been registered as a lobbyist in the prior year from joining.)
As a result, someone like Geoffrey Burr, who lobbied the Labor Department in opposition to wages rules and worker safety measures, can work in the Trump administration’s Labor Department.
21. Trump allowed coal companies to dump waste in streams. Trump signed a bill killing the Obama administration’s Stream Protection Rule, which aimed to keep toxic metals out of water supplies in coal country.
22. Trump froze Environmental Protection Agency contracts grants. The Trump team put a temporary halt to funding for routinely contracted work like drinking water testing, ProPublica reported.
23. Trump’s FCC kept the prices sky-high for families who call loved ones in prison. Prison phone calls are absurdly expensive, averaging around $3 for a 15-minute in-state call. Activists have been trying to bring the cost down for years.
In 2015, federal regulators approved a rule that capped charges at 11 cents per minute. The industry sued, and Trump’s new head of the FCC, Ajit Pai, recently announced the agency would not defend the rule in court.
24. The FCC also blocked nine internet service providers from a federal subsidy program for low-income Americans. Pai undid a move that allowed internet service providers to participate in the Lifeline program, which gives a $9.25-per-month credit to households to buy internet service.
25. Trump’s EPA killed a rule to protect people from mercury exposure. The EPA withdrew a rule requiring dentists’ offices to install equipment to dispose of fillings that contain mercury as an alternative to washing them down the drain. Mercury can hurt pregnant women and kids even at low levels.
26. Troubling signs for civil asset forfeiture reform. During a White House meeting with county sheriffs from across the country, Trump offered to help “destroy the career” of Texas state Sen. Juan Hinojosa after one of the sheriffs in attendance complained about Hinojosa’s efforts to curtail the oft-abused practice of civil asset forfeiture.
27. Big military budget build-up has little for the soldiers on the front lines. Trump has planned to funnel taxpayer dollars into the military in a bid to beef up its budget. But as of now, the principal beneficiary of this largesse will continue to be wealthy military contractors and Pentagon elites. As HuffPost’s David Wood reported, very little will trickle down to working-class service members, who typically deploy with “budget leftovers” such as “antiquated rifles, helicopters built for their grandfathers during the Vietnam War and communications gear that is overweight and unreliable.” The men and women who are training to fight in the next war have “weapons that don’t work, trucks that are broken down, [and] combat exercises canceled for lack of money.”
28. Plans are afoot to make it easier for corporations to get out of paying their taxes. Trump signed an executive order this month asking the Treasury Department to look at all Obama-era tax rules. Anything that’s too much of a burden or too complex in the eyes of Secretary Mnuchin could get axed. The main target appears to be rules put in place to cut down on tax inversions, in which an American company acquires a foreign company and relocates abroad to cut down on its U.S. taxes.
29. And now, Trump has proposed a massive tax cut for America’s elites: Just ahead of the (largely arbitrary) “100 Days” deadline, the White House issued a single-page statement of principles that outlines a massive tax cut for America’s richest citizens. In HuffPost’s analysis, the wealthy would benefit from “reducing the tax rate on stocks, bonds and real estate investments; eliminating inheritance taxes for millionaire heirs and heiresses; and bringing down the tax rate on the largest corporations to less than half of what it is now.” According to the Center for Economic Policy and Research, Trump would himself receive a tax break windfall under this plan, to the tune of $65 million.
Appropriately, the punchline of Trump’s faux-populist joke is, “The Aristocrats!”
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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repwincostl4m0a2 ¡ 8 years ago
Text
In 100 Days, Trump Has Found 29 Ways To Screw Regular Americans
President Donald Trump campaigned as a champion of forgotten and downtrodden Americans ― a risible but tried-and-true platform ― but the first 100 days of his presidency have been decidedly un-populist.
Amid Trump’s deluge of unsubstantiated claims and the chaos of his administration, it can be challenging to keep track of what campaign promises he has or hasn’t fulfilled.
So here’s a list of 29 things Trump has done so far that cater to big business at the expense of ordinary Americans:
1. Trump reversed a planned decrease in the cost of mortgage insurance for working- and middle-class homebuyers. Within hours of being sworn in, Trump put a hold on a reduction in the cost of Federal Housing Authority mortgage insurance. The move means 750,000 to 850,000 Americans will face higher costs in the next year alone, according to the National Association of Realtors.
2. He nominated to run the Treasury Department a second-generation Goldman Sachs partner and hedge fund manager who activists say ran a “foreclosure machine.” Steven Mnuchin misled senators by saying the bank he invested in and ran didn’t use illegal robo-signings (documents showed they did) and omitted $100 million in assets from his personal financial disclosure forms. Oh, and the Department of Housing and Urban Development is investigating claims his bank engaged in the racist practice of redlining.
3. Mnuchin is painfully under-informed about automation’s potential to decimate labor. In an interview with Axios’ Mike Allen, Mnuchin said he was “not at all” concerned about the potential shocks to the labor market that advances in automation might have, insisting that the timeline for such concerns was “50 or 100 years.”
As The Verge’s Adi Robinson noted, “[a] December report from the White House cited studies that estimate automation will affect between 9 percent and 47 percent of jobs over the next 10 to 20 years.”
4. Trump tried to put a fast-food executive in charge of the Labor Department. After running a campaign focused on the economy’s forgotten workers, Trump plucked the chief executive of the Hardee’s and Carl’s Jr. burger chains to lead the nation’s top workplace watchdog. While Andrew Puzder ran parent company CKE Restaurants, Hardee’s and Carl’s Jr. franchises around the country violated the very labor laws that Puzder would have been expected to enforce. Puzder’s nomination eventually went down in flames ― not due to his company’s labor record, but because of old domestic abuse allegations and because he’d personally employed an undocumented immigrant.
5. Goldman Sachs’ influence in the Trump White House doesn’t end with Mnuchin. Former Goldman Sachs president Gary Cohn’s influence in the West Wing has grown considerably in Trump’s first 100 days. Cohn’s developed such a strong hand internally that he is currently thought to be a leading contender for Reince Priebus’ job, should any staff shakeup create the need for a new White House chief of staff. As HuffPost has noted, “Cohn’s appointment as White House chief of staff wouldn’t just be a boon for bank lobbyists seeking lucrative new loopholes. It would be a restoration of finance to the center of American politics.”
6. Goldman Sachs’ influence in the Trump White House doesn’t end with Gary Cohn, either. Trump nominated former Sullivan & Cromwell partner Jay Clayton to chair the Securities and Exchange Commission, which is tasked with making sure the financial sector behaves itself. In the wake of Clayton’s nomination, his old firm carefully trimmed his 800-word biography ― which detailed his adventures helping Wall Street firms navigate the legal terrain in pursuit of mergers, acquisitions and capital market offerings ― down to a more concise 30.
Here’s an even more concise biography: Clayton is probably best known as Goldman Sachs’ bailout lawyer.
7. Trump named a billionaire investor as an anti-regulation czar. Trump named Carl Icahn as a special adviser on regulation, which is awkward, given the dozens and dozens of regulations that materially affect Ichan’s investments. He is particularly incensed by an EPA renewable fuel rule that applies to an oil refinery in which he owns a stake.
Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits. Peter Thiel, "Zero To One"
8. Trump named a huge fan of monopolies to lead the search for anti-trust regulators. Shortly after his inauguration, Trump gave billionaire Silicon Valley venture capitalist Peter Thiel the go-ahead to lead the search for his administration’s “top antitrust enforcement jobs.” Thiel, who sits on the board of world-devouring platform Facebook, came out as a committed monopolist in his book Zero To One: “Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits.”
9. Overall, Trump’s advisers live in an elitist bubble. As the Washington Post’s Philip Bump reported in April, Trump has staffed his White House with a collection of plutocrats who possess a staggering collective wealth: “Financial reports released by the Trump administration indicate that 27 staffers who work for him are worth a combined $2.3 billion thanks to real estate, investments and hefty salaries.” That’s more money than 86 counties’ worth of Trump voters make in a year.
10. Trump moved to kill a rule that forces Wall Street to act in the best interest of Americans saving for retirement. Trump signed a memo that put the fiduciary rule — which requires brokers act in the best interests of folks saving for retirement — on the path to the glue factory. His adviser Cohn likened the move to “freedom,” saying, “This is like putting only healthy food on the menu, because unhealthy food tastes good but you still shouldn’t eat it because you might die younger.”
Not exactly: The rule literally forbade brokers from guiding retirees “into expensive or poor-performing products that carry economic benefits and perks for the advisers and their firms, without disclosing such conflicts of interest.” It’s estimated that consumers lose $17 billion annually to such scams.
11. Trump took aim at post-crisis bank regulation. Trump signed an executive order in February that by itself doesn’t undo Dodd-Frank, but starts a process that could defang Wall Street oversight. Technically, the administration is still in the “just asking questions” phase of financial de-regulation, but Trump has been clear about his intentions, saying that “we expect to be cutting a lot out of Dodd-Frank.” Trump signed the order after a meeting earlier that day with big-time Wall Street executives, at one point telling JPMorgan Chase CEO Jamie Dimon, “There’s nobody better to tell me about Dodd-Frank than Jamie, so you’re going to tell me about it.”
Trump signed two more executive orders in April asking the Treasury Department to review governmental authority to take over failing financial companies, and to review rules that allow for the regulation of financial companies other than banks as systemically important.
12. Trump outlined a budget that’s broadly punitive to Trump’s own voters. The Washington Post’s Jenna Johnson reports Trump’s proposed budget includes cuts that “would disproportionately harm the rural areas and small towns that were key to his unexpected win.”
13. Trump has instigated a trade war that will hit Americans first. The Dallas Morning News reported that Texas cattle ranchers have emerged as the “first casualty” of Trump’s “blundering, blustering trade policy.” Per contributor Richard Parker: “By threatening a trade war with Mexico within days of inauguration, the president helped trigger a slide in cattle futures. Mexico is a major export market. By sinking the Trans-Pacific Partnership, the new administration cut off long-sought access to the Japanese market. Now banks have raised the conditions for collateral for loans for ranchers.”
14. Trump has backed health care proposals with a common theme: subsidize the wealthy while jacking up prices on the poor with shock cost increases. Both Trump-backed Obamacare replacements are broadly redistributive, but not in any discernibly populist direction. Rather, they shift wealth from poorer Americans to wealthier ones and corporations. People earning over a $1 million, in fact, would have “saved an estimated $165 billion in taxes over 10 years.” The tax benefits would be financed through draconian cuts to Medicaid and other health programs for the poor.
15. The plan also features substantial cuts in drug treatment protocols to address the nation’s opioid crisis. As CNN’s Dan Merica reported: “The current version of the Trump-backed Republican health care plan would end the Obamacare requirement that addiction services and mental health treatment be covered under Medicaid in the 31 states that expanded the health care program. The GOP plan would instead leave up to states ― and their budgets ― to decide whether to cover drug treatment and mental health services under Medicaid. That’s a decision advocates say could put the most vulnerable opiate abusers in greater risk, thanks to near-constant pressure on state budgets.”
16. Good news for employers who like stealing from their workers! Trump signed a bill, sent to him by Congress, that repeals the sensible-sounding Fair Pay and Safe Workplaces rule, put in place by Obama. The rule would have required companies to disclose labor law violations when they bid on federal contracts, so that the government doesn’t steer taxpayer dollars toward companies that cheat or endanger workers. By repealing the rule, Trump did a favor for companies that have a history of wage theft and workplace hazards.  
17. Trump delayed a life-saving protection for construction workers. Earlier this month, Trump put a halt to the most consequential workplace safety reform of the last decade. The so-called silica rule would reduce the amount of cancer-causing dust that companies can legally expose construction workers to. The tighter regulations rolled out last year were 45 years in the making and are projected to save 600 lives per year. But the Trump administration announced a three-month delay to enforcing the rule, drawing applause from the construction industry. Workplace watchdogs now worry the regulations will be watered down or scrapped altogether.
18. Trump made it harder for low-wage workers to save for retirement. The Obama administration took steps to popularize what are known as automatic IRA accounts. These are government-sponsored retirement plans set up for people who don’t have IRA’s through their jobs, i.e., much of the working class and working poor. Even though these plans once enjoyed conservative support, Trump repealed Obama’s executive order that would have made it easier for cities and counties to set up these auto-IRA’s. That surely pleased Wall Street, which doesn’t like how these IRA’s compete with its own offerings.
19. Trump made it easier for employers to hide worker injuries. Earlier this month, Trump loosened the record-keeping requirements for employers in dangerous industries. Instead of having to keep accurate injury records for six years, employers can only be held accountable for the last six months. Occupational health experts say the change will make it easier for companies to sweep injuries under the rug. “This will give license to employers to keep fraudulent records and to willfully violate the law with impunity,” a former OSHA policy adviser told HuffPost.
20. Trump weakened rules on lobbyists working in his administration. Trump signed an executive order that allows lobbyists to join his administration, provided they don’t work for two years on any issue on which they lobbied. (The Obama administration barred anyone who had been registered as a lobbyist in the prior year from joining.)
As a result, someone like Geoffrey Burr, who lobbied the Labor Department in opposition to wages rules and worker safety measures, can work in the Trump administration’s Labor Department.
21. Trump allowed coal companies to dump waste in streams. Trump signed a bill killing the Obama administration’s Stream Protection Rule, which aimed to keep toxic metals out of water supplies in coal country.
22. Trump froze Environmental Protection Agency contracts grants. The Trump team put a temporary halt to funding for routinely contracted work like drinking water testing, ProPublica reported.
23. Trump’s FCC kept the prices sky-high for families who call loved ones in prison. Prison phone calls are absurdly expensive, averaging around $3 for a 15-minute in-state call. Activists have been trying to bring the cost down for years.
In 2015, federal regulators approved a rule that capped charges at 11 cents per minute. The industry sued, and Trump’s new head of the FCC, Ajit Pai, recently announced the agency would not defend the rule in court.
24. The FCC also blocked nine internet service providers from a federal subsidy program for low-income Americans. Pai undid a move that allowed internet service providers to participate in the Lifeline program, which gives a $9.25-per-month credit to households to buy internet service.
25. Trump’s EPA killed a rule to protect people from mercury exposure. The EPA withdrew a rule requiring dentists’ offices to install equipment to dispose of fillings that contain mercury as an alternative to washing them down the drain. Mercury can hurt pregnant women and kids even at low levels.
26. Troubling signs for civil asset forfeiture reform. During a White House meeting with county sheriffs from across the country, Trump offered to help “destroy the career” of Texas state Sen. Juan Hinojosa after one of the sheriffs in attendance complained about Hinojosa’s efforts to curtail the oft-abused practice of civil asset forfeiture.
27. Big military budget build-up has little for the soldiers on the front lines. Trump has planned to funnel taxpayer dollars into the military in a bid to beef up its budget. But as of now, the principal beneficiary of this largesse will continue to be wealthy military contractors and Pentagon elites. As HuffPost’s David Wood reported, very little will trickle down to working-class service members, who typically deploy with “budget leftovers” such as “antiquated rifles, helicopters built for their grandfathers during the Vietnam War and communications gear that is overweight and unreliable.” The men and women who are training to fight in the next war have “weapons that don’t work, trucks that are broken down, [and] combat exercises canceled for lack of money.”
28. Plans are afoot to make it easier for corporations to get out of paying their taxes. Trump signed an executive order this month asking the Treasury Department to look at all Obama-era tax rules. Anything that’s too much of a burden or too complex in the eyes of Secretary Mnuchin could get axed. The main target appears to be rules put in place to cut down on tax inversions, in which an American company acquires a foreign company and relocates abroad to cut down on its U.S. taxes.
29. And now, Trump has proposed a massive tax cut for America’s elites: Just ahead of the (largely arbitrary) “100 Days” deadline, the White House issued a single-page statement of principles that outlines a massive tax cut for America’s richest citizens. In HuffPost’s analysis, the wealthy would benefit from “reducing the tax rate on stocks, bonds and real estate investments; eliminating inheritance taxes for millionaire heirs and heiresses; and bringing down the tax rate on the largest corporations to less than half of what it is now.” According to the Center for Economic Policy and Research, Trump would himself receive a tax break windfall under this plan, to the tune of $65 million.
Appropriately, the punchline of Trump’s faux-populist joke is, “The Aristocrats!”
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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0 notes
repwincoml4a0a5 ¡ 8 years ago
Text
In 100 Days, Trump Has Found 29 Ways To Screw Regular Americans
President Donald Trump campaigned as a champion of forgotten and downtrodden Americans ― a risible but tried-and-true platform ― but the first 100 days of his presidency have been decidedly un-populist.
Amid Trump’s deluge of unsubstantiated claims and the chaos of his administration, it can be challenging to keep track of what campaign promises he has or hasn’t fulfilled.
So here’s a list of 29 things Trump has done so far that cater to big business at the expense of ordinary Americans:
1. Trump reversed a planned decrease in the cost of mortgage insurance for working- and middle-class homebuyers. Within hours of being sworn in, Trump put a hold on a reduction in the cost of Federal Housing Authority mortgage insurance. The move means 750,000 to 850,000 Americans will face higher costs in the next year alone, according to the National Association of Realtors.
2. He nominated to run the Treasury Department a second-generation Goldman Sachs partner and hedge fund manager who activists say ran a “foreclosure machine.” Steven Mnuchin misled senators by saying the bank he invested in and ran didn’t use illegal robo-signings (documents showed they did) and omitted $100 million in assets from his personal financial disclosure forms. Oh, and the Department of Housing and Urban Development is investigating claims his bank engaged in the racist practice of redlining.
3. Mnuchin is painfully under-informed about automation’s potential to decimate labor. In an interview with Axios’ Mike Allen, Mnuchin said he was “not at all” concerned about the potential shocks to the labor market that advances in automation might have, insisting that the timeline for such concerns was “50 or 100 years.”
As The Verge’s Adi Robinson noted, “[a] December report from the White House cited studies that estimate automation will affect between 9 percent and 47 percent of jobs over the next 10 to 20 years.”
4. Trump tried to put a fast-food executive in charge of the Labor Department. After running a campaign focused on the economy’s forgotten workers, Trump plucked the chief executive of the Hardee’s and Carl’s Jr. burger chains to lead the nation’s top workplace watchdog. While Andrew Puzder ran parent company CKE Restaurants, Hardee’s and Carl’s Jr. franchises around the country violated the very labor laws that Puzder would have been expected to enforce. Puzder’s nomination eventually went down in flames ― not due to his company’s labor record, but because of old domestic abuse allegations and because he’d personally employed an undocumented immigrant.
5. Goldman Sachs’ influence in the Trump White House doesn’t end with Mnuchin. Former Goldman Sachs president Gary Cohn’s influence in the West Wing has grown considerably in Trump’s first 100 days. Cohn’s developed such a strong hand internally that he is currently thought to be a leading contender for Reince Priebus’ job, should any staff shakeup create the need for a new White House chief of staff. As HuffPost has noted, “Cohn’s appointment as White House chief of staff wouldn’t just be a boon for bank lobbyists seeking lucrative new loopholes. It would be a restoration of finance to the center of American politics.”
6. Goldman Sachs’ influence in the Trump White House doesn’t end with Gary Cohn, either. Trump nominated former Sullivan & Cromwell partner Jay Clayton to chair the Securities and Exchange Commission, which is tasked with making sure the financial sector behaves itself. In the wake of Clayton’s nomination, his old firm carefully trimmed his 800-word biography ― which detailed his adventures helping Wall Street firms navigate the legal terrain in pursuit of mergers, acquisitions and capital market offerings ― down to a more concise 30.
Here’s an even more concise biography: Clayton is probably best known as Goldman Sachs’ bailout lawyer.
7. Trump named a billionaire investor as an anti-regulation czar. Trump named Carl Icahn as a special adviser on regulation, which is awkward, given the dozens and dozens of regulations that materially affect Ichan’s investments. He is particularly incensed by an EPA renewable fuel rule that applies to an oil refinery in which he owns a stake.
Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits. Peter Thiel, "Zero To One"
8. Trump named a huge fan of monopolies to lead the search for anti-trust regulators. Shortly after his inauguration, Trump gave billionaire Silicon Valley venture capitalist Peter Thiel the go-ahead to lead the search for his administration’s “top antitrust enforcement jobs.” Thiel, who sits on the board of world-devouring platform Facebook, came out as a committed monopolist in his book Zero To One: “Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits.”
9. Overall, Trump’s advisers live in an elitist bubble. As the Washington Post’s Philip Bump reported in April, Trump has staffed his White House with a collection of plutocrats who possess a staggering collective wealth: “Financial reports released by the Trump administration indicate that 27 staffers who work for him are worth a combined $2.3 billion thanks to real estate, investments and hefty salaries.” That’s more money than 86 counties’ worth of Trump voters make in a year.
10. Trump moved to kill a rule that forces Wall Street to act in the best interest of Americans saving for retirement. Trump signed a memo that put the fiduciary rule — which requires brokers act in the best interests of folks saving for retirement — on the path to the glue factory. His adviser Cohn likened the move to “freedom,” saying, “This is like putting only healthy food on the menu, because unhealthy food tastes good but you still shouldn’t eat it because you might die younger.”
Not exactly: The rule literally forbade brokers from guiding retirees “into expensive or poor-performing products that carry economic benefits and perks for the advisers and their firms, without disclosing such conflicts of interest.” It’s estimated that consumers lose $17 billion annually to such scams.
11. Trump took aim at post-crisis bank regulation. Trump signed an executive order in February that by itself doesn’t undo Dodd-Frank, but starts a process that could defang Wall Street oversight. Technically, the administration is still in the “just asking questions” phase of financial de-regulation, but Trump has been clear about his intentions, saying that “we expect to be cutting a lot out of Dodd-Frank.” Trump signed the order after a meeting earlier that day with big-time Wall Street executives, at one point telling JPMorgan Chase CEO Jamie Dimon, “There’s nobody better to tell me about Dodd-Frank than Jamie, so you’re going to tell me about it.”
Trump signed two more executive orders in April asking the Treasury Department to review governmental authority to take over failing financial companies, and to review rules that allow for the regulation of financial companies other than banks as systemically important.
12. Trump outlined a budget that’s broadly punitive to Trump’s own voters. The Washington Post’s Jenna Johnson reports Trump’s proposed budget includes cuts that “would disproportionately harm the rural areas and small towns that were key to his unexpected win.”
13. Trump has instigated a trade war that will hit Americans first. The Dallas Morning News reported that Texas cattle ranchers have emerged as the “first casualty” of Trump’s “blundering, blustering trade policy.” Per contributor Richard Parker: “By threatening a trade war with Mexico within days of inauguration, the president helped trigger a slide in cattle futures. Mexico is a major export market. By sinking the Trans-Pacific Partnership, the new administration cut off long-sought access to the Japanese market. Now banks have raised the conditions for collateral for loans for ranchers.”
14. Trump has backed health care proposals with a common theme: subsidize the wealthy while jacking up prices on the poor with shock cost increases. Both Trump-backed Obamacare replacements are broadly redistributive, but not in any discernibly populist direction. Rather, they shift wealth from poorer Americans to wealthier ones and corporations. People earning over a $1 million, in fact, would have “saved an estimated $165 billion in taxes over 10 years.” The tax benefits would be financed through draconian cuts to Medicaid and other health programs for the poor.
15. The plan also features substantial cuts in drug treatment protocols to address the nation’s opioid crisis. As CNN’s Dan Merica reported: “The current version of the Trump-backed Republican health care plan would end the Obamacare requirement that addiction services and mental health treatment be covered under Medicaid in the 31 states that expanded the health care program. The GOP plan would instead leave up to states ― and their budgets ― to decide whether to cover drug treatment and mental health services under Medicaid. That’s a decision advocates say could put the most vulnerable opiate abusers in greater risk, thanks to near-constant pressure on state budgets.”
16. Good news for employers who like stealing from their workers! Trump signed a bill, sent to him by Congress, that repeals the sensible-sounding Fair Pay and Safe Workplaces rule, put in place by Obama. The rule would have required companies to disclose labor law violations when they bid on federal contracts, so that the government doesn’t steer taxpayer dollars toward companies that cheat or endanger workers. By repealing the rule, Trump did a favor for companies that have a history of wage theft and workplace hazards.  
17. Trump delayed a life-saving protection for construction workers. Earlier this month, Trump put a halt to the most consequential workplace safety reform of the last decade. The so-called silica rule would reduce the amount of cancer-causing dust that companies can legally expose construction workers to. The tighter regulations rolled out last year were 45 years in the making and are projected to save 600 lives per year. But the Trump administration announced a three-month delay to enforcing the rule, drawing applause from the construction industry. Workplace watchdogs now worry the regulations will be watered down or scrapped altogether.
18. Trump made it harder for low-wage workers to save for retirement. The Obama administration took steps to popularize what are known as automatic IRA accounts. These are government-sponsored retirement plans set up for people who don’t have IRA’s through their jobs, i.e., much of the working class and working poor. Even though these plans once enjoyed conservative support, Trump repealed Obama’s executive order that would have made it easier for cities and counties to set up these auto-IRA’s. That surely pleased Wall Street, which doesn’t like how these IRA’s compete with its own offerings.
19. Trump made it easier for employers to hide worker injuries. Earlier this month, Trump loosened the record-keeping requirements for employers in dangerous industries. Instead of having to keep accurate injury records for six years, employers can only be held accountable for the last six months. Occupational health experts say the change will make it easier for companies to sweep injuries under the rug. “This will give license to employers to keep fraudulent records and to willfully violate the law with impunity,” a former OSHA policy adviser told HuffPost.
20. Trump weakened rules on lobbyists working in his administration. Trump signed an executive order that allows lobbyists to join his administration, provided they don’t work for two years on any issue on which they lobbied. (The Obama administration barred anyone who had been registered as a lobbyist in the prior year from joining.)
As a result, someone like Geoffrey Burr, who lobbied the Labor Department in opposition to wages rules and worker safety measures, can work in the Trump administration’s Labor Department.
21. Trump allowed coal companies to dump waste in streams. Trump signed a bill killing the Obama administration’s Stream Protection Rule, which aimed to keep toxic metals out of water supplies in coal country.
22. Trump froze Environmental Protection Agency contracts grants. The Trump team put a temporary halt to funding for routinely contracted work like drinking water testing, ProPublica reported.
23. Trump’s FCC kept the prices sky-high for families who call loved ones in prison. Prison phone calls are absurdly expensive, averaging around $3 for a 15-minute in-state call. Activists have been trying to bring the cost down for years.
In 2015, federal regulators approved a rule that capped charges at 11 cents per minute. The industry sued, and Trump’s new head of the FCC, Ajit Pai, recently announced the agency would not defend the rule in court.
24. The FCC also blocked nine internet service providers from a federal subsidy program for low-income Americans. Pai undid a move that allowed internet service providers to participate in the Lifeline program, which gives a $9.25-per-month credit to households to buy internet service.
25. Trump’s EPA killed a rule to protect people from mercury exposure. The EPA withdrew a rule requiring dentists’ offices to install equipment to dispose of fillings that contain mercury as an alternative to washing them down the drain. Mercury can hurt pregnant women and kids even at low levels.
26. Troubling signs for civil asset forfeiture reform. During a White House meeting with county sheriffs from across the country, Trump offered to help “destroy the career” of Texas state Sen. Juan Hinojosa after one of the sheriffs in attendance complained about Hinojosa’s efforts to curtail the oft-abused practice of civil asset forfeiture.
27. Big military budget build-up has little for the soldiers on the front lines. Trump has planned to funnel taxpayer dollars into the military in a bid to beef up its budget. But as of now, the principal beneficiary of this largesse will continue to be wealthy military contractors and Pentagon elites. As HuffPost’s David Wood reported, very little will trickle down to working-class service members, who typically deploy with “budget leftovers” such as “antiquated rifles, helicopters built for their grandfathers during the Vietnam War and communications gear that is overweight and unreliable.” The men and women who are training to fight in the next war have “weapons that don’t work, trucks that are broken down, [and] combat exercises canceled for lack of money.”
28. Plans are afoot to make it easier for corporations to get out of paying their taxes. Trump signed an executive order this month asking the Treasury Department to look at all Obama-era tax rules. Anything that’s too much of a burden or too complex in the eyes of Secretary Mnuchin could get axed. The main target appears to be rules put in place to cut down on tax inversions, in which an American company acquires a foreign company and relocates abroad to cut down on its U.S. taxes.
29. And now, Trump has proposed a massive tax cut for America’s elites: Just ahead of the (largely arbitrary) “100 Days” deadline, the White House issued a single-page statement of principles that outlines a massive tax cut for America’s richest citizens. In HuffPost’s analysis, the wealthy would benefit from “reducing the tax rate on stocks, bonds and real estate investments; eliminating inheritance taxes for millionaire heirs and heiresses; and bringing down the tax rate on the largest corporations to less than half of what it is now.” According to the Center for Economic Policy and Research, Trump would himself receive a tax break windfall under this plan, to the tune of $65 million.
Appropriately, the punchline of Trump’s faux-populist joke is, “The Aristocrats!”
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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gillespialfredoe01806ld ¡ 8 years ago
Text
In 100 Days, Trump Has Found 29 Ways To Screw Regular Americans
President Donald Trump campaigned as a champion of forgotten and downtrodden Americans ― a risible but tried-and-true platform ― but the first 100 days of his presidency have been decidedly un-populist.
Amid Trump’s deluge of unsubstantiated claims and the chaos of his administration, it can be challenging to keep track of what campaign promises he has or hasn’t fulfilled.
So here’s a list of 29 things Trump has done so far that cater to big business at the expense of ordinary Americans:
1. Trump reversed a planned decrease in the cost of mortgage insurance for working- and middle-class homebuyers. Within hours of being sworn in, Trump put a hold on a reduction in the cost of Federal Housing Authority mortgage insurance. The move means 750,000 to 850,000 Americans will face higher costs in the next year alone, according to the National Association of Realtors.
2. He nominated to run the Treasury Department a second-generation Goldman Sachs partner and hedge fund manager who activists say ran a “foreclosure machine.” Steven Mnuchin misled senators by saying the bank he invested in and ran didn’t use illegal robo-signings (documents showed they did) and omitted $100 million in assets from his personal financial disclosure forms. Oh, and the Department of Housing and Urban Development is investigating claims his bank engaged in the racist practice of redlining.
3. Mnuchin is painfully under-informed about automation’s potential to decimate labor. In an interview with Axios’ Mike Allen, Mnuchin said he was “not at all” concerned about the potential shocks to the labor market that advances in automation might have, insisting that the timeline for such concerns was “50 or 100 years.”
As The Verge’s Adi Robinson noted, “[a] December report from the White House cited studies that estimate automation will affect between 9 percent and 47 percent of jobs over the next 10 to 20 years.”
4. Trump tried to put a fast-food executive in charge of the Labor Department. After running a campaign focused on the economy’s forgotten workers, Trump plucked the chief executive of the Hardee’s and Carl’s Jr. burger chains to lead the nation’s top workplace watchdog. While Andrew Puzder ran parent company CKE Restaurants, Hardee’s and Carl’s Jr. franchises around the country violated the very labor laws that Puzder would have been expected to enforce. Puzder’s nomination eventually went down in flames ― not due to his company’s labor record, but because of old domestic abuse allegations and because he’d personally employed an undocumented immigrant.
5. Goldman Sachs’ influence in the Trump White House doesn’t end with Mnuchin. Former Goldman Sachs president Gary Cohn’s influence in the West Wing has grown considerably in Trump’s first 100 days. Cohn’s developed such a strong hand internally that he is currently thought to be a leading contender for Reince Priebus’ job, should any staff shakeup create the need for a new White House chief of staff. As HuffPost has noted, “Cohn’s appointment as White House chief of staff wouldn’t just be a boon for bank lobbyists seeking lucrative new loopholes. It would be a restoration of finance to the center of American politics.”
6. Goldman Sachs’ influence in the Trump White House doesn’t end with Gary Cohn, either. Trump nominated former Sullivan & Cromwell partner Jay Clayton to chair the Securities and Exchange Commission, which is tasked with making sure the financial sector behaves itself. In the wake of Clayton’s nomination, his old firm carefully trimmed his 800-word biography ― which detailed his adventures helping Wall Street firms navigate the legal terrain in pursuit of mergers, acquisitions and capital market offerings ― down to a more concise 30.
Here’s an even more concise biography: Clayton is probably best known as Goldman Sachs’ bailout lawyer.
7. Trump named a billionaire investor as an anti-regulation czar. Trump named Carl Icahn as a special adviser on regulation, which is awkward, given the dozens and dozens of regulations that materially affect Ichan’s investments. He is particularly incensed by an EPA renewable fuel rule that applies to an oil refinery in which he owns a stake.
Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits. Peter Thiel, "Zero To One"
8. Trump named a huge fan of monopolies to lead the search for anti-trust regulators. Shortly after his inauguration, Trump gave billionaire Silicon Valley venture capitalist Peter Thiel the go-ahead to lead the search for his administration’s “top antitrust enforcement jobs.” Thiel, who sits on the board of world-devouring platform Facebook, came out as a committed monopolist in his book Zero To One: “Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits.”
9. Overall, Trump’s advisers live in an elitist bubble. As the Washington Post’s Philip Bump reported in April, Trump has staffed his White House with a collection of plutocrats who possess a staggering collective wealth: “Financial reports released by the Trump administration indicate that 27 staffers who work for him are worth a combined $2.3 billion thanks to real estate, investments and hefty salaries.” That’s more money than 86 counties’ worth of Trump voters make in a year.
10. Trump moved to kill a rule that forces Wall Street to act in the best interest of Americans saving for retirement. Trump signed a memo that put the fiduciary rule — which requires brokers act in the best interests of folks saving for retirement — on the path to the glue factory. His adviser Cohn likened the move to “freedom,” saying, “This is like putting only healthy food on the menu, because unhealthy food tastes good but you still shouldn’t eat it because you might die younger.”
Not exactly: The rule literally forbade brokers from guiding retirees “into expensive or poor-performing products that carry economic benefits and perks for the advisers and their firms, without disclosing such conflicts of interest.” It’s estimated that consumers lose $17 billion annually to such scams.
11. Trump took aim at post-crisis bank regulation. Trump signed an executive order in February that by itself doesn’t undo Dodd-Frank, but starts a process that could defang Wall Street oversight. Technically, the administration is still in the “just asking questions” phase of financial de-regulation, but Trump has been clear about his intentions, saying that “we expect to be cutting a lot out of Dodd-Frank.” Trump signed the order after a meeting earlier that day with big-time Wall Street executives, at one point telling JPMorgan Chase CEO Jamie Dimon, “There’s nobody better to tell me about Dodd-Frank than Jamie, so you’re going to tell me about it.”
Trump signed two more executive orders in April asking the Treasury Department to review governmental authority to take over failing financial companies, and to review rules that allow for the regulation of financial companies other than banks as systemically important.
12. Trump outlined a budget that’s broadly punitive to Trump’s own voters. The Washington Post’s Jenna Johnson reports Trump’s proposed budget includes cuts that “would disproportionately harm the rural areas and small towns that were key to his unexpected win.”
13. Trump has instigated a trade war that will hit Americans first. The Dallas Morning News reported that Texas cattle ranchers have emerged as the “first casualty” of Trump’s “blundering, blustering trade policy.” Per contributor Richard Parker: “By threatening a trade war with Mexico within days of inauguration, the president helped trigger a slide in cattle futures. Mexico is a major export market. By sinking the Trans-Pacific Partnership, the new administration cut off long-sought access to the Japanese market. Now banks have raised the conditions for collateral for loans for ranchers.”
14. Trump has backed health care proposals with a common theme: subsidize the wealthy while jacking up prices on the poor with shock cost increases. Both Trump-backed Obamacare replacements are broadly redistributive, but not in any discernibly populist direction. Rather, they shift wealth from poorer Americans to wealthier ones and corporations. People earning over a $1 million, in fact, would have “saved an estimated $165 billion in taxes over 10 years.” The tax benefits would be financed through draconian cuts to Medicaid and other health programs for the poor.
15. The plan also features substantial cuts in drug treatment protocols to address the nation’s opioid crisis. As CNN’s Dan Merica reported: “The current version of the Trump-backed Republican health care plan would end the Obamacare requirement that addiction services and mental health treatment be covered under Medicaid in the 31 states that expanded the health care program. The GOP plan would instead leave up to states ― and their budgets ― to decide whether to cover drug treatment and mental health services under Medicaid. That’s a decision advocates say could put the most vulnerable opiate abusers in greater risk, thanks to near-constant pressure on state budgets.”
16. Good news for employers who like stealing from their workers! Trump signed a bill, sent to him by Congress, that repeals the sensible-sounding Fair Pay and Safe Workplaces rule, put in place by Obama. The rule would have required companies to disclose labor law violations when they bid on federal contracts, so that the government doesn’t steer taxpayer dollars toward companies that cheat or endanger workers. By repealing the rule, Trump did a favor for companies that have a history of wage theft and workplace hazards.  
17. Trump delayed a life-saving protection for construction workers. Earlier this month, Trump put a halt to the most consequential workplace safety reform of the last decade. The so-called silica rule would reduce the amount of cancer-causing dust that companies can legally expose construction workers to. The tighter regulations rolled out last year were 45 years in the making and are projected to save 600 lives per year. But the Trump administration announced a three-month delay to enforcing the rule, drawing applause from the construction industry. Workplace watchdogs now worry the regulations will be watered down or scrapped altogether.
18. Trump made it harder for low-wage workers to save for retirement. The Obama administration took steps to popularize what are known as automatic IRA accounts. These are government-sponsored retirement plans set up for people who don’t have IRA’s through their jobs, i.e., much of the working class and working poor. Even though these plans once enjoyed conservative support, Trump repealed Obama’s executive order that would have made it easier for cities and counties to set up these auto-IRA’s. That surely pleased Wall Street, which doesn’t like how these IRA’s compete with its own offerings.
19. Trump made it easier for employers to hide worker injuries. Earlier this month, Trump loosened the record-keeping requirements for employers in dangerous industries. Instead of having to keep accurate injury records for six years, employers can only be held accountable for the last six months. Occupational health experts say the change will make it easier for companies to sweep injuries under the rug. “This will give license to employers to keep fraudulent records and to willfully violate the law with impunity,” a former OSHA policy adviser told HuffPost.
20. Trump weakened rules on lobbyists working in his administration. Trump signed an executive order that allows lobbyists to join his administration, provided they don’t work for two years on any issue on which they lobbied. (The Obama administration barred anyone who had been registered as a lobbyist in the prior year from joining.)
As a result, someone like Geoffrey Burr, who lobbied the Labor Department in opposition to wages rules and worker safety measures, can work in the Trump administration’s Labor Department.
21. Trump allowed coal companies to dump waste in streams. Trump signed a bill killing the Obama administration’s Stream Protection Rule, which aimed to keep toxic metals out of water supplies in coal country.
22. Trump froze Environmental Protection Agency contracts grants. The Trump team put a temporary halt to funding for routinely contracted work like drinking water testing, ProPublica reported.
23. Trump’s FCC kept the prices sky-high for families who call loved ones in prison. Prison phone calls are absurdly expensive, averaging around $3 for a 15-minute in-state call. Activists have been trying to bring the cost down for years.
In 2015, federal regulators approved a rule that capped charges at 11 cents per minute. The industry sued, and Trump’s new head of the FCC, Ajit Pai, recently announced the agency would not defend the rule in court.
24. The FCC also blocked nine internet service providers from a federal subsidy program for low-income Americans. Pai undid a move that allowed internet service providers to participate in the Lifeline program, which gives a $9.25-per-month credit to households to buy internet service.
25. Trump’s EPA killed a rule to protect people from mercury exposure. The EPA withdrew a rule requiring dentists’ offices to install equipment to dispose of fillings that contain mercury as an alternative to washing them down the drain. Mercury can hurt pregnant women and kids even at low levels.
26. Troubling signs for civil asset forfeiture reform. During a White House meeting with county sheriffs from across the country, Trump offered to help “destroy the career” of Texas state Sen. Juan Hinojosa after one of the sheriffs in attendance complained about Hinojosa’s efforts to curtail the oft-abused practice of civil asset forfeiture.
27. Big military budget build-up has little for the soldiers on the front lines. Trump has planned to funnel taxpayer dollars into the military in a bid to beef up its budget. But as of now, the principal beneficiary of this largesse will continue to be wealthy military contractors and Pentagon elites. As HuffPost’s David Wood reported, very little will trickle down to working-class service members, who typically deploy with “budget leftovers” such as “antiquated rifles, helicopters built for their grandfathers during the Vietnam War and communications gear that is overweight and unreliable.” The men and women who are training to fight in the next war have “weapons that don’t work, trucks that are broken down, [and] combat exercises canceled for lack of money.”
28. Plans are afoot to make it easier for corporations to get out of paying their taxes. Trump signed an executive order this month asking the Treasury Department to look at all Obama-era tax rules. Anything that’s too much of a burden or too complex in the eyes of Secretary Mnuchin could get axed. The main target appears to be rules put in place to cut down on tax inversions, in which an American company acquires a foreign company and relocates abroad to cut down on its U.S. taxes.
29. And now, Trump has proposed a massive tax cut for America’s elites: Just ahead of the (largely arbitrary) “100 Days” deadline, the White House issued a single-page statement of principles that outlines a massive tax cut for America’s richest citizens. In HuffPost’s analysis, the wealthy would benefit from “reducing the tax rate on stocks, bonds and real estate investments; eliminating inheritance taxes for millionaire heirs and heiresses; and bringing down the tax rate on the largest corporations to less than half of what it is now.” According to the Center for Economic Policy and Research, Trump would himself receive a tax break windfall under this plan, to the tune of $65 million.
Appropriately, the punchline of Trump’s faux-populist joke is, “The Aristocrats!”
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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0 notes
realestate63141 ¡ 8 years ago
Text
In 100 Days, Trump Has Found 29 Ways To Screw Regular Americans
President Donald Trump campaigned as a champion of forgotten and downtrodden Americans ― a risible but tried-and-true platform ― but the first 100 days of his presidency have been decidedly un-populist.
Amid Trump’s deluge of unsubstantiated claims and the chaos of his administration, it can be challenging to keep track of what campaign promises he has or hasn’t fulfilled.
So here’s a list of 29 things Trump has done so far that cater to big business at the expense of ordinary Americans:
1. Trump reversed a planned decrease in the cost of mortgage insurance for working- and middle-class homebuyers. Within hours of being sworn in, Trump put a hold on a reduction in the cost of Federal Housing Authority mortgage insurance. The move means 750,000 to 850,000 Americans will face higher costs in the next year alone, according to the National Association of Realtors.
2. He nominated to run the Treasury Department a second-generation Goldman Sachs partner and hedge fund manager who activists say ran a “foreclosure machine.” Steven Mnuchin misled senators by saying the bank he invested in and ran didn’t use illegal robo-signings (documents showed they did) and omitted $100 million in assets from his personal financial disclosure forms. Oh, and the Department of Housing and Urban Development is investigating claims his bank engaged in the racist practice of redlining.
3. Mnuchin is painfully under-informed about automation’s potential to decimate labor. In an interview with Axios’ Mike Allen, Mnuchin said he was “not at all” concerned about the potential shocks to the labor market that advances in automation might have, insisting that the timeline for such concerns was “50 or 100 years.”
As The Verge’s Adi Robinson noted, “[a] December report from the White House cited studies that estimate automation will affect between 9 percent and 47 percent of jobs over the next 10 to 20 years.”
4. Trump tried to put a fast-food executive in charge of the Labor Department. After running a campaign focused on the economy’s forgotten workers, Trump plucked the chief executive of the Hardee’s and Carl’s Jr. burger chains to lead the nation’s top workplace watchdog. While Andrew Puzder ran parent company CKE Restaurants, Hardee’s and Carl’s Jr. franchises around the country violated the very labor laws that Puzder would have been expected to enforce. Puzder’s nomination eventually went down in flames ― not due to his company’s labor record, but because of old domestic abuse allegations and because he’d personally employed an undocumented immigrant.
5. Goldman Sachs’ influence in the Trump White House doesn’t end with Mnuchin. Former Goldman Sachs president Gary Cohn’s influence in the West Wing has grown considerably in Trump’s first 100 days. Cohn’s developed such a strong hand internally that he is currently thought to be a leading contender for Reince Priebus’ job, should any staff shakeup create the need for a new White House chief of staff. As HuffPost has noted, “Cohn’s appointment as White House chief of staff wouldn’t just be a boon for bank lobbyists seeking lucrative new loopholes. It would be a restoration of finance to the center of American politics.”
6. Goldman Sachs’ influence in the Trump White House doesn’t end with Gary Cohn, either. Trump nominated former Sullivan & Cromwell partner Jay Clayton to chair the Securities and Exchange Commission, which is tasked with making sure the financial sector behaves itself. In the wake of Clayton’s nomination, his old firm carefully trimmed his 800-word biography ― which detailed his adventures helping Wall Street firms navigate the legal terrain in pursuit of mergers, acquisitions and capital market offerings ― down to a more concise 30.
Here’s an even more concise biography: Clayton is probably best known as Goldman Sachs’ bailout lawyer.
7. Trump named a billionaire investor as an anti-regulation czar. Trump named Carl Icahn as a special adviser on regulation, which is awkward, given the dozens and dozens of regulations that materially affect Ichan’s investments. He is particularly incensed by an EPA renewable fuel rule that applies to an oil refinery in which he owns a stake.
Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits. Peter Thiel, "Zero To One"
8. Trump named a huge fan of monopolies to lead the search for anti-trust regulators. Shortly after his inauguration, Trump gave billionaire Silicon Valley venture capitalist Peter Thiel the go-ahead to lead the search for his administration’s “top antitrust enforcement jobs.” Thiel, who sits on the board of world-devouring platform Facebook, came out as a committed monopolist in his book Zero To One: “Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits.”
9. Overall, Trump’s advisers live in an elitist bubble. As the Washington Post’s Philip Bump reported in April, Trump has staffed his White House with a collection of plutocrats who possess a staggering collective wealth: “Financial reports released by the Trump administration indicate that 27 staffers who work for him are worth a combined $2.3 billion thanks to real estate, investments and hefty salaries.” That’s more money than 86 counties’ worth of Trump voters make in a year.
10. Trump moved to kill a rule that forces Wall Street to act in the best interest of Americans saving for retirement. Trump signed a memo that put the fiduciary rule — which requires brokers act in the best interests of folks saving for retirement — on the path to the glue factory. His adviser Cohn likened the move to “freedom,” saying, “This is like putting only healthy food on the menu, because unhealthy food tastes good but you still shouldn’t eat it because you might die younger.”
Not exactly: The rule literally forbade brokers from guiding retirees “into expensive or poor-performing products that carry economic benefits and perks for the advisers and their firms, without disclosing such conflicts of interest.” It’s estimated that consumers lose $17 billion annually to such scams.
11. Trump took aim at post-crisis bank regulation. Trump signed an executive order in February that by itself doesn’t undo Dodd-Frank, but starts a process that could defang Wall Street oversight. Technically, the administration is still in the “just asking questions” phase of financial de-regulation, but Trump has been clear about his intentions, saying that “we expect to be cutting a lot out of Dodd-Frank.” Trump signed the order after a meeting earlier that day with big-time Wall Street executives, at one point telling JPMorgan Chase CEO Jamie Dimon, “There’s nobody better to tell me about Dodd-Frank than Jamie, so you’re going to tell me about it.”
Trump signed two more executive orders in April asking the Treasury Department to review governmental authority to take over failing financial companies, and to review rules that allow for the regulation of financial companies other than banks as systemically important.
12. Trump outlined a budget that’s broadly punitive to Trump’s own voters. The Washington Post’s Jenna Johnson reports Trump’s proposed budget includes cuts that “would disproportionately harm the rural areas and small towns that were key to his unexpected win.”
13. Trump has instigated a trade war that will hit Americans first. The Dallas Morning News reported that Texas cattle ranchers have emerged as the “first casualty” of Trump’s “blundering, blustering trade policy.” Per contributor Richard Parker: “By threatening a trade war with Mexico within days of inauguration, the president helped trigger a slide in cattle futures. Mexico is a major export market. By sinking the Trans-Pacific Partnership, the new administration cut off long-sought access to the Japanese market. Now banks have raised the conditions for collateral for loans for ranchers.”
14. Trump has backed health care proposals with a common theme: subsidize the wealthy while jacking up prices on the poor with shock cost increases. Both Trump-backed Obamacare replacements are broadly redistributive, but not in any discernibly populist direction. Rather, they shift wealth from poorer Americans to wealthier ones and corporations. People earning over a $1 million, in fact, would have “saved an estimated $165 billion in taxes over 10 years.” The tax benefits would be financed through draconian cuts to Medicaid and other health programs for the poor.
15. The plan also features substantial cuts in drug treatment protocols to address the nation’s opioid crisis. As CNN’s Dan Merica reported: “The current version of the Trump-backed Republican health care plan would end the Obamacare requirement that addiction services and mental health treatment be covered under Medicaid in the 31 states that expanded the health care program. The GOP plan would instead leave up to states ― and their budgets ― to decide whether to cover drug treatment and mental health services under Medicaid. That’s a decision advocates say could put the most vulnerable opiate abusers in greater risk, thanks to near-constant pressure on state budgets.”
16. Good news for employers who like stealing from their workers! Trump signed a bill, sent to him by Congress, that repeals the sensible-sounding Fair Pay and Safe Workplaces rule, put in place by Obama. The rule would have required companies to disclose labor law violations when they bid on federal contracts, so that the government doesn’t steer taxpayer dollars toward companies that cheat or endanger workers. By repealing the rule, Trump did a favor for companies that have a history of wage theft and workplace hazards.  
17. Trump delayed a life-saving protection for construction workers. Earlier this month, Trump put a halt to the most consequential workplace safety reform of the last decade. The so-called silica rule would reduce the amount of cancer-causing dust that companies can legally expose construction workers to. The tighter regulations rolled out last year were 45 years in the making and are projected to save 600 lives per year. But the Trump administration announced a three-month delay to enforcing the rule, drawing applause from the construction industry. Workplace watchdogs now worry the regulations will be watered down or scrapped altogether.
18. Trump made it harder for low-wage workers to save for retirement. The Obama administration took steps to popularize what are known as automatic IRA accounts. These are government-sponsored retirement plans set up for people who don’t have IRA’s through their jobs, i.e., much of the working class and working poor. Even though these plans once enjoyed conservative support, Trump repealed Obama’s executive order that would have made it easier for cities and counties to set up these auto-IRA’s. That surely pleased Wall Street, which doesn’t like how these IRA’s compete with its own offerings.
19. Trump made it easier for employers to hide worker injuries. Earlier this month, Trump loosened the record-keeping requirements for employers in dangerous industries. Instead of having to keep accurate injury records for six years, employers can only be held accountable for the last six months. Occupational health experts say the change will make it easier for companies to sweep injuries under the rug. “This will give license to employers to keep fraudulent records and to willfully violate the law with impunity,” a former OSHA policy adviser told HuffPost.
20. Trump weakened rules on lobbyists working in his administration. Trump signed an executive order that allows lobbyists to join his administration, provided they don’t work for two years on any issue on which they lobbied. (The Obama administration barred anyone who had been registered as a lobbyist in the prior year from joining.)
As a result, someone like Geoffrey Burr, who lobbied the Labor Department in opposition to wages rules and worker safety measures, can work in the Trump administration’s Labor Department.
21. Trump allowed coal companies to dump waste in streams. Trump signed a bill killing the Obama administration’s Stream Protection Rule, which aimed to keep toxic metals out of water supplies in coal country.
22. Trump froze Environmental Protection Agency contracts grants. The Trump team put a temporary halt to funding for routinely contracted work like drinking water testing, ProPublica reported.
23. Trump’s FCC kept the prices sky-high for families who call loved ones in prison. Prison phone calls are absurdly expensive, averaging around $3 for a 15-minute in-state call. Activists have been trying to bring the cost down for years.
In 2015, federal regulators approved a rule that capped charges at 11 cents per minute. The industry sued, and Trump’s new head of the FCC, Ajit Pai, recently announced the agency would not defend the rule in court.
24. The FCC also blocked nine internet service providers from a federal subsidy program for low-income Americans. Pai undid a move that allowed internet service providers to participate in the Lifeline program, which gives a $9.25-per-month credit to households to buy internet service.
25. Trump’s EPA killed a rule to protect people from mercury exposure. The EPA withdrew a rule requiring dentists’ offices to install equipment to dispose of fillings that contain mercury as an alternative to washing them down the drain. Mercury can hurt pregnant women and kids even at low levels.
26. Troubling signs for civil asset forfeiture reform. During a White House meeting with county sheriffs from across the country, Trump offered to help “destroy the career” of Texas state Sen. Juan Hinojosa after one of the sheriffs in attendance complained about Hinojosa’s efforts to curtail the oft-abused practice of civil asset forfeiture.
27. Big military budget build-up has little for the soldiers on the front lines. Trump has planned to funnel taxpayer dollars into the military in a bid to beef up its budget. But as of now, the principal beneficiary of this largesse will continue to be wealthy military contractors and Pentagon elites. As HuffPost’s David Wood reported, very little will trickle down to working-class service members, who typically deploy with “budget leftovers” such as “antiquated rifles, helicopters built for their grandfathers during the Vietnam War and communications gear that is overweight and unreliable.” The men and women who are training to fight in the next war have “weapons that don’t work, trucks that are broken down, [and] combat exercises canceled for lack of money.”
28. Plans are afoot to make it easier for corporations to get out of paying their taxes. Trump signed an executive order this month asking the Treasury Department to look at all Obama-era tax rules. Anything that’s too much of a burden or too complex in the eyes of Secretary Mnuchin could get axed. The main target appears to be rules put in place to cut down on tax inversions, in which an American company acquires a foreign company and relocates abroad to cut down on its U.S. taxes.
29. And now, Trump has proposed a massive tax cut for America’s elites: Just ahead of the (largely arbitrary) “100 Days” deadline, the White House issued a single-page statement of principles that outlines a massive tax cut for America’s richest citizens. In HuffPost’s analysis, the wealthy would benefit from “reducing the tax rate on stocks, bonds and real estate investments; eliminating inheritance taxes for millionaire heirs and heiresses; and bringing down the tax rate on the largest corporations to less than half of what it is now.” According to the Center for Economic Policy and Research, Trump would himself receive a tax break windfall under this plan, to the tune of $65 million.
Appropriately, the punchline of Trump’s faux-populist joke is, “The Aristocrats!”
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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pat78701 ¡ 8 years ago
Text
In 100 Days, Trump Has Found 29 Ways To Screw Regular Americans
President Donald Trump campaigned as a champion of forgotten and downtrodden Americans ― a risible but tried-and-true platform ― but the first 100 days of his presidency have been decidedly un-populist.
Amid Trump’s deluge of unsubstantiated claims and the chaos of his administration, it can be challenging to keep track of what campaign promises he has or hasn’t fulfilled.
So here’s a list of 29 things Trump has done so far that cater to big business at the expense of ordinary Americans:
1. Trump reversed a planned decrease in the cost of mortgage insurance for working- and middle-class homebuyers. Within hours of being sworn in, Trump put a hold on a reduction in the cost of Federal Housing Authority mortgage insurance. The move means 750,000 to 850,000 Americans will face higher costs in the next year alone, according to the National Association of Realtors.
2. He nominated to run the Treasury Department a second-generation Goldman Sachs partner and hedge fund manager who activists say ran a “foreclosure machine.” Steven Mnuchin misled senators by saying the bank he invested in and ran didn’t use illegal robo-signings (documents showed they did) and omitted $100 million in assets from his personal financial disclosure forms. Oh, and the Department of Housing and Urban Development is investigating claims his bank engaged in the racist practice of redlining.
3. Mnuchin is painfully under-informed about automation’s potential to decimate labor. In an interview with Axios’ Mike Allen, Mnuchin said he was “not at all” concerned about the potential shocks to the labor market that advances in automation might have, insisting that the timeline for such concerns was “50 or 100 years.”
As The Verge’s Adi Robinson noted, “[a] December report from the White House cited studies that estimate automation will affect between 9 percent and 47 percent of jobs over the next 10 to 20 years.”
4. Trump tried to put a fast-food executive in charge of the Labor Department. After running a campaign focused on the economy’s forgotten workers, Trump plucked the chief executive of the Hardee’s and Carl’s Jr. burger chains to lead the nation’s top workplace watchdog. While Andrew Puzder ran parent company CKE Restaurants, Hardee’s and Carl’s Jr. franchises around the country violated the very labor laws that Puzder would have been expected to enforce. Puzder’s nomination eventually went down in flames ― not due to his company’s labor record, but because of old domestic abuse allegations and because he’d personally employed an undocumented immigrant.
5. Goldman Sachs’ influence in the Trump White House doesn’t end with Mnuchin. Former Goldman Sachs president Gary Cohn’s influence in the West Wing has grown considerably in Trump’s first 100 days. Cohn’s developed such a strong hand internally that he is currently thought to be a leading contender for Reince Priebus’ job, should any staff shakeup create the need for a new White House chief of staff. As HuffPost has noted, “Cohn’s appointment as White House chief of staff wouldn’t just be a boon for bank lobbyists seeking lucrative new loopholes. It would be a restoration of finance to the center of American politics.”
6. Goldman Sachs’ influence in the Trump White House doesn’t end with Gary Cohn, either. Trump nominated former Sullivan & Cromwell partner Jay Clayton to chair the Securities and Exchange Commission, which is tasked with making sure the financial sector behaves itself. In the wake of Clayton’s nomination, his old firm carefully trimmed his 800-word biography ― which detailed his adventures helping Wall Street firms navigate the legal terrain in pursuit of mergers, acquisitions and capital market offerings ― down to a more concise 30.
Here’s an even more concise biography: Clayton is probably best known as Goldman Sachs’ bailout lawyer.
7. Trump named a billionaire investor as an anti-regulation czar. Trump named Carl Icahn as a special adviser on regulation, which is awkward, given the dozens and dozens of regulations that materially affect Ichan’s investments. He is particularly incensed by an EPA renewable fuel rule that applies to an oil refinery in which he owns a stake.
Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits. Peter Thiel, "Zero To One"
8. Trump named a huge fan of monopolies to lead the search for anti-trust regulators. Shortly after his inauguration, Trump gave billionaire Silicon Valley venture capitalist Peter Thiel the go-ahead to lead the search for his administration’s “top antitrust enforcement jobs.” Thiel, who sits on the board of world-devouring platform Facebook, came out as a committed monopolist in his book Zero To One: “Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits.”
9. Overall, Trump’s advisers live in an elitist bubble. As the Washington Post’s Philip Bump reported in April, Trump has staffed his White House with a collection of plutocrats who possess a staggering collective wealth: “Financial reports released by the Trump administration indicate that 27 staffers who work for him are worth a combined $2.3 billion thanks to real estate, investments and hefty salaries.” That’s more money than 86 counties’ worth of Trump voters make in a year.
10. Trump moved to kill a rule that forces Wall Street to act in the best interest of Americans saving for retirement. Trump signed a memo that put the fiduciary rule — which requires brokers act in the best interests of folks saving for retirement — on the path to the glue factory. His adviser Cohn likened the move to “freedom,” saying, “This is like putting only healthy food on the menu, because unhealthy food tastes good but you still shouldn’t eat it because you might die younger.”
Not exactly: The rule literally forbade brokers from guiding retirees “into expensive or poor-performing products that carry economic benefits and perks for the advisers and their firms, without disclosing such conflicts of interest.” It’s estimated that consumers lose $17 billion annually to such scams.
11. Trump took aim at post-crisis bank regulation. Trump signed an executive order in February that by itself doesn’t undo Dodd-Frank, but starts a process that could defang Wall Street oversight. Technically, the administration is still in the “just asking questions” phase of financial de-regulation, but Trump has been clear about his intentions, saying that “we expect to be cutting a lot out of Dodd-Frank.” Trump signed the order after a meeting earlier that day with big-time Wall Street executives, at one point telling JPMorgan Chase CEO Jamie Dimon, “There’s nobody better to tell me about Dodd-Frank than Jamie, so you’re going to tell me about it.”
Trump signed two more executive orders in April asking the Treasury Department to review governmental authority to take over failing financial companies, and to review rules that allow for the regulation of financial companies other than banks as systemically important.
12. Trump outlined a budget that’s broadly punitive to Trump’s own voters. The Washington Post’s Jenna Johnson reports Trump’s proposed budget includes cuts that “would disproportionately harm the rural areas and small towns that were key to his unexpected win.”
13. Trump has instigated a trade war that will hit Americans first. The Dallas Morning News reported that Texas cattle ranchers have emerged as the “first casualty” of Trump’s “blundering, blustering trade policy.” Per contributor Richard Parker: “By threatening a trade war with Mexico within days of inauguration, the president helped trigger a slide in cattle futures. Mexico is a major export market. By sinking the Trans-Pacific Partnership, the new administration cut off long-sought access to the Japanese market. Now banks have raised the conditions for collateral for loans for ranchers.”
14. Trump has backed health care proposals with a common theme: subsidize the wealthy while jacking up prices on the poor with shock cost increases. Both Trump-backed Obamacare replacements are broadly redistributive, but not in any discernibly populist direction. Rather, they shift wealth from poorer Americans to wealthier ones and corporations. People earning over a $1 million, in fact, would have “saved an estimated $165 billion in taxes over 10 years.” The tax benefits would be financed through draconian cuts to Medicaid and other health programs for the poor.
15. The plan also features substantial cuts in drug treatment protocols to address the nation’s opioid crisis. As CNN’s Dan Merica reported: “The current version of the Trump-backed Republican health care plan would end the Obamacare requirement that addiction services and mental health treatment be covered under Medicaid in the 31 states that expanded the health care program. The GOP plan would instead leave up to states ― and their budgets ― to decide whether to cover drug treatment and mental health services under Medicaid. That’s a decision advocates say could put the most vulnerable opiate abusers in greater risk, thanks to near-constant pressure on state budgets.”
16. Good news for employers who like stealing from their workers! Trump signed a bill, sent to him by Congress, that repeals the sensible-sounding Fair Pay and Safe Workplaces rule, put in place by Obama. The rule would have required companies to disclose labor law violations when they bid on federal contracts, so that the government doesn’t steer taxpayer dollars toward companies that cheat or endanger workers. By repealing the rule, Trump did a favor for companies that have a history of wage theft and workplace hazards.  
17. Trump delayed a life-saving protection for construction workers. Earlier this month, Trump put a halt to the most consequential workplace safety reform of the last decade. The so-called silica rule would reduce the amount of cancer-causing dust that companies can legally expose construction workers to. The tighter regulations rolled out last year were 45 years in the making and are projected to save 600 lives per year. But the Trump administration announced a three-month delay to enforcing the rule, drawing applause from the construction industry. Workplace watchdogs now worry the regulations will be watered down or scrapped altogether.
18. Trump made it harder for low-wage workers to save for retirement. The Obama administration took steps to popularize what are known as automatic IRA accounts. These are government-sponsored retirement plans set up for people who don’t have IRA’s through their jobs, i.e., much of the working class and working poor. Even though these plans once enjoyed conservative support, Trump repealed Obama’s executive order that would have made it easier for cities and counties to set up these auto-IRA’s. That surely pleased Wall Street, which doesn’t like how these IRA’s compete with its own offerings.
19. Trump made it easier for employers to hide worker injuries. Earlier this month, Trump loosened the record-keeping requirements for employers in dangerous industries. Instead of having to keep accurate injury records for six years, employers can only be held accountable for the last six months. Occupational health experts say the change will make it easier for companies to sweep injuries under the rug. “This will give license to employers to keep fraudulent records and to willfully violate the law with impunity,” a former OSHA policy adviser told HuffPost.
20. Trump weakened rules on lobbyists working in his administration. Trump signed an executive order that allows lobbyists to join his administration, provided they don’t work for two years on any issue on which they lobbied. (The Obama administration barred anyone who had been registered as a lobbyist in the prior year from joining.)
As a result, someone like Geoffrey Burr, who lobbied the Labor Department in opposition to wages rules and worker safety measures, can work in the Trump administration’s Labor Department.
21. Trump allowed coal companies to dump waste in streams. Trump signed a bill killing the Obama administration’s Stream Protection Rule, which aimed to keep toxic metals out of water supplies in coal country.
22. Trump froze Environmental Protection Agency contracts grants. The Trump team put a temporary halt to funding for routinely contracted work like drinking water testing, ProPublica reported.
23. Trump’s FCC kept the prices sky-high for families who call loved ones in prison. Prison phone calls are absurdly expensive, averaging around $3 for a 15-minute in-state call. Activists have been trying to bring the cost down for years.
In 2015, federal regulators approved a rule that capped charges at 11 cents per minute. The industry sued, and Trump’s new head of the FCC, Ajit Pai, recently announced the agency would not defend the rule in court.
24. The FCC also blocked nine internet service providers from a federal subsidy program for low-income Americans. Pai undid a move that allowed internet service providers to participate in the Lifeline program, which gives a $9.25-per-month credit to households to buy internet service.
25. Trump’s EPA killed a rule to protect people from mercury exposure. The EPA withdrew a rule requiring dentists’ offices to install equipment to dispose of fillings that contain mercury as an alternative to washing them down the drain. Mercury can hurt pregnant women and kids even at low levels.
26. Troubling signs for civil asset forfeiture reform. During a White House meeting with county sheriffs from across the country, Trump offered to help “destroy the career” of Texas state Sen. Juan Hinojosa after one of the sheriffs in attendance complained about Hinojosa’s efforts to curtail the oft-abused practice of civil asset forfeiture.
27. Big military budget build-up has little for the soldiers on the front lines. Trump has planned to funnel taxpayer dollars into the military in a bid to beef up its budget. But as of now, the principal beneficiary of this largesse will continue to be wealthy military contractors and Pentagon elites. As HuffPost’s David Wood reported, very little will trickle down to working-class service members, who typically deploy with “budget leftovers” such as “antiquated rifles, helicopters built for their grandfathers during the Vietnam War and communications gear that is overweight and unreliable.” The men and women who are training to fight in the next war have “weapons that don’t work, trucks that are broken down, [and] combat exercises canceled for lack of money.”
28. Plans are afoot to make it easier for corporations to get out of paying their taxes. Trump signed an executive order this month asking the Treasury Department to look at all Obama-era tax rules. Anything that’s too much of a burden or too complex in the eyes of Secretary Mnuchin could get axed. The main target appears to be rules put in place to cut down on tax inversions, in which an American company acquires a foreign company and relocates abroad to cut down on its U.S. taxes.
29. And now, Trump has proposed a massive tax cut for America’s elites: Just ahead of the (largely arbitrary) “100 Days” deadline, the White House issued a single-page statement of principles that outlines a massive tax cut for America’s richest citizens. In HuffPost’s analysis, the wealthy would benefit from “reducing the tax rate on stocks, bonds and real estate investments; eliminating inheritance taxes for millionaire heirs and heiresses; and bringing down the tax rate on the largest corporations to less than half of what it is now.” According to the Center for Economic Policy and Research, Trump would himself receive a tax break windfall under this plan, to the tune of $65 million.
Appropriately, the punchline of Trump’s faux-populist joke is, “The Aristocrats!”
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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chpatdoorsl3z0a1 ¡ 8 years ago
Text
In 100 Days, Trump Has Found 29 Ways To Screw Regular Americans
President Donald Trump campaigned as a champion of forgotten and downtrodden Americans ― a risible but tried-and-true platform ― but the first 100 days of his presidency have been decidedly un-populist.
Amid Trump’s deluge of unsubstantiated claims and the chaos of his administration, it can be challenging to keep track of what campaign promises he has or hasn’t fulfilled.
So here’s a list of 29 things Trump has done so far that cater to big business at the expense of ordinary Americans:
1. Trump reversed a planned decrease in the cost of mortgage insurance for working- and middle-class homebuyers. Within hours of being sworn in, Trump put a hold on a reduction in the cost of Federal Housing Authority mortgage insurance. The move means 750,000 to 850,000 Americans will face higher costs in the next year alone, according to the National Association of Realtors.
2. He nominated to run the Treasury Department a second-generation Goldman Sachs partner and hedge fund manager who activists say ran a “foreclosure machine.” Steven Mnuchin misled senators by saying the bank he invested in and ran didn’t use illegal robo-signings (documents showed they did) and omitted $100 million in assets from his personal financial disclosure forms. Oh, and the Department of Housing and Urban Development is investigating claims his bank engaged in the racist practice of redlining.
3. Mnuchin is painfully under-informed about automation’s potential to decimate labor. In an interview with Axios’ Mike Allen, Mnuchin said he was “not at all” concerned about the potential shocks to the labor market that advances in automation might have, insisting that the timeline for such concerns was “50 or 100 years.”
As The Verge’s Adi Robinson noted, “[a] December report from the White House cited studies that estimate automation will affect between 9 percent and 47 percent of jobs over the next 10 to 20 years.”
4. Trump tried to put a fast-food executive in charge of the Labor Department. After running a campaign focused on the economy’s forgotten workers, Trump plucked the chief executive of the Hardee’s and Carl’s Jr. burger chains to lead the nation’s top workplace watchdog. While Andrew Puzder ran parent company CKE Restaurants, Hardee’s and Carl’s Jr. franchises around the country violated the very labor laws that Puzder would have been expected to enforce. Puzder’s nomination eventually went down in flames ― not due to his company’s labor record, but because of old domestic abuse allegations and because he’d personally employed an undocumented immigrant.
5. Goldman Sachs’ influence in the Trump White House doesn’t end with Mnuchin. Former Goldman Sachs president Gary Cohn’s influence in the West Wing has grown considerably in Trump’s first 100 days. Cohn’s developed such a strong hand internally that he is currently thought to be a leading contender for Reince Priebus’ job, should any staff shakeup create the need for a new White House chief of staff. As HuffPost has noted, “Cohn’s appointment as White House chief of staff wouldn’t just be a boon for bank lobbyists seeking lucrative new loopholes. It would be a restoration of finance to the center of American politics.”
6. Goldman Sachs’ influence in the Trump White House doesn’t end with Gary Cohn, either. Trump nominated former Sullivan & Cromwell partner Jay Clayton to chair the Securities and Exchange Commission, which is tasked with making sure the financial sector behaves itself. In the wake of Clayton’s nomination, his old firm carefully trimmed his 800-word biography ― which detailed his adventures helping Wall Street firms navigate the legal terrain in pursuit of mergers, acquisitions and capital market offerings ― down to a more concise 30.
Here’s an even more concise biography: Clayton is probably best known as Goldman Sachs’ bailout lawyer.
7. Trump named a billionaire investor as an anti-regulation czar. Trump named Carl Icahn as a special adviser on regulation, which is awkward, given the dozens and dozens of regulations that materially affect Ichan’s investments. He is particularly incensed by an EPA renewable fuel rule that applies to an oil refinery in which he owns a stake.
Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits. Peter Thiel, "Zero To One"
8. Trump named a huge fan of monopolies to lead the search for anti-trust regulators. Shortly after his inauguration, Trump gave billionaire Silicon Valley venture capitalist Peter Thiel the go-ahead to lead the search for his administration’s “top antitrust enforcement jobs.” Thiel, who sits on the board of world-devouring platform Facebook, came out as a committed monopolist in his book Zero To One: “Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits.”
9. Overall, Trump’s advisers live in an elitist bubble. As the Washington Post’s Philip Bump reported in April, Trump has staffed his White House with a collection of plutocrats who possess a staggering collective wealth: “Financial reports released by the Trump administration indicate that 27 staffers who work for him are worth a combined $2.3 billion thanks to real estate, investments and hefty salaries.” That’s more money than 86 counties’ worth of Trump voters make in a year.
10. Trump moved to kill a rule that forces Wall Street to act in the best interest of Americans saving for retirement. Trump signed a memo that put the fiduciary rule — which requires brokers act in the best interests of folks saving for retirement — on the path to the glue factory. His adviser Cohn likened the move to “freedom,” saying, “This is like putting only healthy food on the menu, because unhealthy food tastes good but you still shouldn’t eat it because you might die younger.”
Not exactly: The rule literally forbade brokers from guiding retirees “into expensive or poor-performing products that carry economic benefits and perks for the advisers and their firms, without disclosing such conflicts of interest.” It’s estimated that consumers lose $17 billion annually to such scams.
11. Trump took aim at post-crisis bank regulation. Trump signed an executive order in February that by itself doesn’t undo Dodd-Frank, but starts a process that could defang Wall Street oversight. Technically, the administration is still in the “just asking questions” phase of financial de-regulation, but Trump has been clear about his intentions, saying that “we expect to be cutting a lot out of Dodd-Frank.” Trump signed the order after a meeting earlier that day with big-time Wall Street executives, at one point telling JPMorgan Chase CEO Jamie Dimon, “There’s nobody better to tell me about Dodd-Frank than Jamie, so you’re going to tell me about it.”
Trump signed two more executive orders in April asking the Treasury Department to review governmental authority to take over failing financial companies, and to review rules that allow for the regulation of financial companies other than banks as systemically important.
12. Trump outlined a budget that’s broadly punitive to Trump’s own voters. The Washington Post’s Jenna Johnson reports Trump’s proposed budget includes cuts that “would disproportionately harm the rural areas and small towns that were key to his unexpected win.”
13. Trump has instigated a trade war that will hit Americans first. The Dallas Morning News reported that Texas cattle ranchers have emerged as the “first casualty” of Trump’s “blundering, blustering trade policy.” Per contributor Richard Parker: “By threatening a trade war with Mexico within days of inauguration, the president helped trigger a slide in cattle futures. Mexico is a major export market. By sinking the Trans-Pacific Partnership, the new administration cut off long-sought access to the Japanese market. Now banks have raised the conditions for collateral for loans for ranchers.”
14. Trump has backed health care proposals with a common theme: subsidize the wealthy while jacking up prices on the poor with shock cost increases. Both Trump-backed Obamacare replacements are broadly redistributive, but not in any discernibly populist direction. Rather, they shift wealth from poorer Americans to wealthier ones and corporations. People earning over a $1 million, in fact, would have “saved an estimated $165 billion in taxes over 10 years.” The tax benefits would be financed through draconian cuts to Medicaid and other health programs for the poor.
15. The plan also features substantial cuts in drug treatment protocols to address the nation’s opioid crisis. As CNN’s Dan Merica reported: “The current version of the Trump-backed Republican health care plan would end the Obamacare requirement that addiction services and mental health treatment be covered under Medicaid in the 31 states that expanded the health care program. The GOP plan would instead leave up to states ― and their budgets ― to decide whether to cover drug treatment and mental health services under Medicaid. That’s a decision advocates say could put the most vulnerable opiate abusers in greater risk, thanks to near-constant pressure on state budgets.”
16. Good news for employers who like stealing from their workers! Trump signed a bill, sent to him by Congress, that repeals the sensible-sounding Fair Pay and Safe Workplaces rule, put in place by Obama. The rule would have required companies to disclose labor law violations when they bid on federal contracts, so that the government doesn’t steer taxpayer dollars toward companies that cheat or endanger workers. By repealing the rule, Trump did a favor for companies that have a history of wage theft and workplace hazards.  
17. Trump delayed a life-saving protection for construction workers. Earlier this month, Trump put a halt to the most consequential workplace safety reform of the last decade. The so-called silica rule would reduce the amount of cancer-causing dust that companies can legally expose construction workers to. The tighter regulations rolled out last year were 45 years in the making and are projected to save 600 lives per year. But the Trump administration announced a three-month delay to enforcing the rule, drawing applause from the construction industry. Workplace watchdogs now worry the regulations will be watered down or scrapped altogether.
18. Trump made it harder for low-wage workers to save for retirement. The Obama administration took steps to popularize what are known as automatic IRA accounts. These are government-sponsored retirement plans set up for people who don’t have IRA’s through their jobs, i.e., much of the working class and working poor. Even though these plans once enjoyed conservative support, Trump repealed Obama’s executive order that would have made it easier for cities and counties to set up these auto-IRA’s. That surely pleased Wall Street, which doesn’t like how these IRA’s compete with its own offerings.
19. Trump made it easier for employers to hide worker injuries. Earlier this month, Trump loosened the record-keeping requirements for employers in dangerous industries. Instead of having to keep accurate injury records for six years, employers can only be held accountable for the last six months. Occupational health experts say the change will make it easier for companies to sweep injuries under the rug. “This will give license to employers to keep fraudulent records and to willfully violate the law with impunity,” a former OSHA policy adviser told HuffPost.
20. Trump weakened rules on lobbyists working in his administration. Trump signed an executive order that allows lobbyists to join his administration, provided they don’t work for two years on any issue on which they lobbied. (The Obama administration barred anyone who had been registered as a lobbyist in the prior year from joining.)
As a result, someone like Geoffrey Burr, who lobbied the Labor Department in opposition to wages rules and worker safety measures, can work in the Trump administration’s Labor Department.
21. Trump allowed coal companies to dump waste in streams. Trump signed a bill killing the Obama administration’s Stream Protection Rule, which aimed to keep toxic metals out of water supplies in coal country.
22. Trump froze Environmental Protection Agency contracts grants. The Trump team put a temporary halt to funding for routinely contracted work like drinking water testing, ProPublica reported.
23. Trump’s FCC kept the prices sky-high for families who call loved ones in prison. Prison phone calls are absurdly expensive, averaging around $3 for a 15-minute in-state call. Activists have been trying to bring the cost down for years.
In 2015, federal regulators approved a rule that capped charges at 11 cents per minute. The industry sued, and Trump’s new head of the FCC, Ajit Pai, recently announced the agency would not defend the rule in court.
24. The FCC also blocked nine internet service providers from a federal subsidy program for low-income Americans. Pai undid a move that allowed internet service providers to participate in the Lifeline program, which gives a $9.25-per-month credit to households to buy internet service.
25. Trump’s EPA killed a rule to protect people from mercury exposure. The EPA withdrew a rule requiring dentists’ offices to install equipment to dispose of fillings that contain mercury as an alternative to washing them down the drain. Mercury can hurt pregnant women and kids even at low levels.
26. Troubling signs for civil asset forfeiture reform. During a White House meeting with county sheriffs from across the country, Trump offered to help “destroy the career” of Texas state Sen. Juan Hinojosa after one of the sheriffs in attendance complained about Hinojosa’s efforts to curtail the oft-abused practice of civil asset forfeiture.
27. Big military budget build-up has little for the soldiers on the front lines. Trump has planned to funnel taxpayer dollars into the military in a bid to beef up its budget. But as of now, the principal beneficiary of this largesse will continue to be wealthy military contractors and Pentagon elites. As HuffPost’s David Wood reported, very little will trickle down to working-class service members, who typically deploy with “budget leftovers” such as “antiquated rifles, helicopters built for their grandfathers during the Vietnam War and communications gear that is overweight and unreliable.” The men and women who are training to fight in the next war have “weapons that don’t work, trucks that are broken down, [and] combat exercises canceled for lack of money.”
28. Plans are afoot to make it easier for corporations to get out of paying their taxes. Trump signed an executive order this month asking the Treasury Department to look at all Obama-era tax rules. Anything that’s too much of a burden or too complex in the eyes of Secretary Mnuchin could get axed. The main target appears to be rules put in place to cut down on tax inversions, in which an American company acquires a foreign company and relocates abroad to cut down on its U.S. taxes.
29. And now, Trump has proposed a massive tax cut for America’s elites: Just ahead of the (largely arbitrary) “100 Days” deadline, the White House issued a single-page statement of principles that outlines a massive tax cut for America’s richest citizens. In HuffPost’s analysis, the wealthy would benefit from “reducing the tax rate on stocks, bonds and real estate investments; eliminating inheritance taxes for millionaire heirs and heiresses; and bringing down the tax rate on the largest corporations to less than half of what it is now.” According to the Center for Economic Policy and Research, Trump would himself receive a tax break windfall under this plan, to the tune of $65 million.
Appropriately, the punchline of Trump’s faux-populist joke is, “The Aristocrats!”
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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0 notes
stormdoors78476 ¡ 8 years ago
Text
In 100 Days, Trump Has Found 29 Ways To Screw Regular Americans
President Donald Trump campaigned as a champion of forgotten and downtrodden Americans ― a risible but tried-and-true platform ― but the first 100 days of his presidency have been decidedly un-populist.
Amid Trump’s deluge of unsubstantiated claims and the chaos of his administration, it can be challenging to keep track of what campaign promises he has or hasn’t fulfilled.
So here’s a list of 29 things Trump has done so far that cater to big business at the expense of ordinary Americans:
1. Trump reversed a planned decrease in the cost of mortgage insurance for working- and middle-class homebuyers. Within hours of being sworn in, Trump put a hold on a reduction in the cost of Federal Housing Authority mortgage insurance. The move means 750,000 to 850,000 Americans will face higher costs in the next year alone, according to the National Association of Realtors.
2. He nominated to run the Treasury Department a second-generation Goldman Sachs partner and hedge fund manager who activists say ran a “foreclosure machine.” Steven Mnuchin misled senators by saying the bank he invested in and ran didn’t use illegal robo-signings (documents showed they did) and omitted $100 million in assets from his personal financial disclosure forms. Oh, and the Department of Housing and Urban Development is investigating claims his bank engaged in the racist practice of redlining.
3. Mnuchin is painfully under-informed about automation’s potential to decimate labor. In an interview with Axios’ Mike Allen, Mnuchin said he was “not at all” concerned about the potential shocks to the labor market that advances in automation might have, insisting that the timeline for such concerns was “50 or 100 years.”
As The Verge’s Adi Robinson noted, “[a] December report from the White House cited studies that estimate automation will affect between 9 percent and 47 percent of jobs over the next 10 to 20 years.”
4. Trump tried to put a fast-food executive in charge of the Labor Department. After running a campaign focused on the economy’s forgotten workers, Trump plucked the chief executive of the Hardee’s and Carl’s Jr. burger chains to lead the nation’s top workplace watchdog. While Andrew Puzder ran parent company CKE Restaurants, Hardee’s and Carl’s Jr. franchises around the country violated the very labor laws that Puzder would have been expected to enforce. Puzder’s nomination eventually went down in flames ― not due to his company’s labor record, but because of old domestic abuse allegations and because he’d personally employed an undocumented immigrant.
5. Goldman Sachs’ influence in the Trump White House doesn’t end with Mnuchin. Former Goldman Sachs president Gary Cohn’s influence in the West Wing has grown considerably in Trump’s first 100 days. Cohn’s developed such a strong hand internally that he is currently thought to be a leading contender for Reince Priebus’ job, should any staff shakeup create the need for a new White House chief of staff. As HuffPost has noted, “Cohn’s appointment as White House chief of staff wouldn’t just be a boon for bank lobbyists seeking lucrative new loopholes. It would be a restoration of finance to the center of American politics.”
6. Goldman Sachs’ influence in the Trump White House doesn’t end with Gary Cohn, either. Trump nominated former Sullivan & Cromwell partner Jay Clayton to chair the Securities and Exchange Commission, which is tasked with making sure the financial sector behaves itself. In the wake of Clayton’s nomination, his old firm carefully trimmed his 800-word biography ― which detailed his adventures helping Wall Street firms navigate the legal terrain in pursuit of mergers, acquisitions and capital market offerings ― down to a more concise 30.
Here’s an even more concise biography: Clayton is probably best known as Goldman Sachs’ bailout lawyer.
7. Trump named a billionaire investor as an anti-regulation czar. Trump named Carl Icahn as a special adviser on regulation, which is awkward, given the dozens and dozens of regulations that materially affect Ichan’s investments. He is particularly incensed by an EPA renewable fuel rule that applies to an oil refinery in which he owns a stake.
Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits. Peter Thiel, "Zero To One"
8. Trump named a huge fan of monopolies to lead the search for anti-trust regulators. Shortly after his inauguration, Trump gave billionaire Silicon Valley venture capitalist Peter Thiel the go-ahead to lead the search for his administration’s “top antitrust enforcement jobs.” Thiel, who sits on the board of world-devouring platform Facebook, came out as a committed monopolist in his book Zero To One: “Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits.”
9. Overall, Trump’s advisers live in an elitist bubble. As the Washington Post’s Philip Bump reported in April, Trump has staffed his White House with a collection of plutocrats who possess a staggering collective wealth: “Financial reports released by the Trump administration indicate that 27 staffers who work for him are worth a combined $2.3 billion thanks to real estate, investments and hefty salaries.” That’s more money than 86 counties’ worth of Trump voters make in a year.
10. Trump moved to kill a rule that forces Wall Street to act in the best interest of Americans saving for retirement. Trump signed a memo that put the fiduciary rule — which requires brokers act in the best interests of folks saving for retirement — on the path to the glue factory. His adviser Cohn likened the move to “freedom,” saying, “This is like putting only healthy food on the menu, because unhealthy food tastes good but you still shouldn’t eat it because you might die younger.”
Not exactly: The rule literally forbade brokers from guiding retirees “into expensive or poor-performing products that carry economic benefits and perks for the advisers and their firms, without disclosing such conflicts of interest.” It’s estimated that consumers lose $17 billion annually to such scams.
11. Trump took aim at post-crisis bank regulation. Trump signed an executive order in February that by itself doesn’t undo Dodd-Frank, but starts a process that could defang Wall Street oversight. Technically, the administration is still in the “just asking questions” phase of financial de-regulation, but Trump has been clear about his intentions, saying that “we expect to be cutting a lot out of Dodd-Frank.” Trump signed the order after a meeting earlier that day with big-time Wall Street executives, at one point telling JPMorgan Chase CEO Jamie Dimon, “There’s nobody better to tell me about Dodd-Frank than Jamie, so you’re going to tell me about it.”
Trump signed two more executive orders in April asking the Treasury Department to review governmental authority to take over failing financial companies, and to review rules that allow for the regulation of financial companies other than banks as systemically important.
12. Trump outlined a budget that’s broadly punitive to Trump’s own voters. The Washington Post’s Jenna Johnson reports Trump’s proposed budget includes cuts that “would disproportionately harm the rural areas and small towns that were key to his unexpected win.”
13. Trump has instigated a trade war that will hit Americans first. The Dallas Morning News reported that Texas cattle ranchers have emerged as the “first casualty” of Trump’s “blundering, blustering trade policy.” Per contributor Richard Parker: “By threatening a trade war with Mexico within days of inauguration, the president helped trigger a slide in cattle futures. Mexico is a major export market. By sinking the Trans-Pacific Partnership, the new administration cut off long-sought access to the Japanese market. Now banks have raised the conditions for collateral for loans for ranchers.”
14. Trump has backed health care proposals with a common theme: subsidize the wealthy while jacking up prices on the poor with shock cost increases. Both Trump-backed Obamacare replacements are broadly redistributive, but not in any discernibly populist direction. Rather, they shift wealth from poorer Americans to wealthier ones and corporations. People earning over a $1 million, in fact, would have “saved an estimated $165 billion in taxes over 10 years.” The tax benefits would be financed through draconian cuts to Medicaid and other health programs for the poor.
15. The plan also features substantial cuts in drug treatment protocols to address the nation’s opioid crisis. As CNN’s Dan Merica reported: “The current version of the Trump-backed Republican health care plan would end the Obamacare requirement that addiction services and mental health treatment be covered under Medicaid in the 31 states that expanded the health care program. The GOP plan would instead leave up to states ― and their budgets ― to decide whether to cover drug treatment and mental health services under Medicaid. That’s a decision advocates say could put the most vulnerable opiate abusers in greater risk, thanks to near-constant pressure on state budgets.”
16. Good news for employers who like stealing from their workers! Trump signed a bill, sent to him by Congress, that repeals the sensible-sounding Fair Pay and Safe Workplaces rule, put in place by Obama. The rule would have required companies to disclose labor law violations when they bid on federal contracts, so that the government doesn’t steer taxpayer dollars toward companies that cheat or endanger workers. By repealing the rule, Trump did a favor for companies that have a history of wage theft and workplace hazards.  
17. Trump delayed a life-saving protection for construction workers. Earlier this month, Trump put a halt to the most consequential workplace safety reform of the last decade. The so-called silica rule would reduce the amount of cancer-causing dust that companies can legally expose construction workers to. The tighter regulations rolled out last year were 45 years in the making and are projected to save 600 lives per year. But the Trump administration announced a three-month delay to enforcing the rule, drawing applause from the construction industry. Workplace watchdogs now worry the regulations will be watered down or scrapped altogether.
18. Trump made it harder for low-wage workers to save for retirement. The Obama administration took steps to popularize what are known as automatic IRA accounts. These are government-sponsored retirement plans set up for people who don’t have IRA’s through their jobs, i.e., much of the working class and working poor. Even though these plans once enjoyed conservative support, Trump repealed Obama’s executive order that would have made it easier for cities and counties to set up these auto-IRA’s. That surely pleased Wall Street, which doesn’t like how these IRA’s compete with its own offerings.
19. Trump made it easier for employers to hide worker injuries. Earlier this month, Trump loosened the record-keeping requirements for employers in dangerous industries. Instead of having to keep accurate injury records for six years, employers can only be held accountable for the last six months. Occupational health experts say the change will make it easier for companies to sweep injuries under the rug. “This will give license to employers to keep fraudulent records and to willfully violate the law with impunity,” a former OSHA policy adviser told HuffPost.
20. Trump weakened rules on lobbyists working in his administration. Trump signed an executive order that allows lobbyists to join his administration, provided they don’t work for two years on any issue on which they lobbied. (The Obama administration barred anyone who had been registered as a lobbyist in the prior year from joining.)
As a result, someone like Geoffrey Burr, who lobbied the Labor Department in opposition to wages rules and worker safety measures, can work in the Trump administration’s Labor Department.
21. Trump allowed coal companies to dump waste in streams. Trump signed a bill killing the Obama administration’s Stream Protection Rule, which aimed to keep toxic metals out of water supplies in coal country.
22. Trump froze Environmental Protection Agency contracts grants. The Trump team put a temporary halt to funding for routinely contracted work like drinking water testing, ProPublica reported.
23. Trump’s FCC kept the prices sky-high for families who call loved ones in prison. Prison phone calls are absurdly expensive, averaging around $3 for a 15-minute in-state call. Activists have been trying to bring the cost down for years.
In 2015, federal regulators approved a rule that capped charges at 11 cents per minute. The industry sued, and Trump’s new head of the FCC, Ajit Pai, recently announced the agency would not defend the rule in court.
24. The FCC also blocked nine internet service providers from a federal subsidy program for low-income Americans. Pai undid a move that allowed internet service providers to participate in the Lifeline program, which gives a $9.25-per-month credit to households to buy internet service.
25. Trump’s EPA killed a rule to protect people from mercury exposure. The EPA withdrew a rule requiring dentists’ offices to install equipment to dispose of fillings that contain mercury as an alternative to washing them down the drain. Mercury can hurt pregnant women and kids even at low levels.
26. Troubling signs for civil asset forfeiture reform. During a White House meeting with county sheriffs from across the country, Trump offered to help “destroy the career” of Texas state Sen. Juan Hinojosa after one of the sheriffs in attendance complained about Hinojosa’s efforts to curtail the oft-abused practice of civil asset forfeiture.
27. Big military budget build-up has little for the soldiers on the front lines. Trump has planned to funnel taxpayer dollars into the military in a bid to beef up its budget. But as of now, the principal beneficiary of this largesse will continue to be wealthy military contractors and Pentagon elites. As HuffPost’s David Wood reported, very little will trickle down to working-class service members, who typically deploy with “budget leftovers” such as “antiquated rifles, helicopters built for their grandfathers during the Vietnam War and communications gear that is overweight and unreliable.” The men and women who are training to fight in the next war have “weapons that don’t work, trucks that are broken down, [and] combat exercises canceled for lack of money.”
28. Plans are afoot to make it easier for corporations to get out of paying their taxes. Trump signed an executive order this month asking the Treasury Department to look at all Obama-era tax rules. Anything that’s too much of a burden or too complex in the eyes of Secretary Mnuchin could get axed. The main target appears to be rules put in place to cut down on tax inversions, in which an American company acquires a foreign company and relocates abroad to cut down on its U.S. taxes.
29. And now, Trump has proposed a massive tax cut for America’s elites: Just ahead of the (largely arbitrary) “100 Days” deadline, the White House issued a single-page statement of principles that outlines a massive tax cut for America’s richest citizens. In HuffPost’s analysis, the wealthy would benefit from “reducing the tax rate on stocks, bonds and real estate investments; eliminating inheritance taxes for millionaire heirs and heiresses; and bringing down the tax rate on the largest corporations to less than half of what it is now.” According to the Center for Economic Policy and Research, Trump would himself receive a tax break windfall under this plan, to the tune of $65 million.
Appropriately, the punchline of Trump’s faux-populist joke is, “The Aristocrats!”
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